competitors. Because workers participate in the returns on investment while only firms bear the costs, investment is inefficiently … low. A binding minimum wage can achieve the first-best level of investment, both in the short run for a given number of …

This paper presents a two-period human capital investment model of married and single immigrants under binding … shown that the comparative advantage in investment that determines which spouse will invest more in local skills depends on … partial specialization in work and investment activities within immigrant households. However, the level invested by each …

Previous papers tested the validity of the Family Investment Hypothesis (FIH) among immigrants by comparing the labor … credit constraints are binding, then only married immigrants can cross-finance their investment within the family. In order …

investment in skill-intensive technologies. A public education system funded by graduate taxes can restore efficiency. More …