This paper examines the pattern of capital mobility in a two-country overlapping generations world in which production uses three inputs: capital, labor and land. The steady-state welfare consequences of opening countries to financial capital or labor mobility are then compared. In particular,...

This note gives the condition under which there is an interior optimum rate of population growth in a two-generations-overlapping model. These conditions imply complementarity both in production and in consumption. They also validate Samuelson's serendipity theorem.

This paper constructs a two-country migration model in the lines of Galor (1986), in which the world population consists of individuals of two types who have different time preferences. Production uses three inputs: mobile labour, immobile capital and land. It is shown that both countries are...

Parenthood postponement is a key demographic trend of the last three decades. In order to rationalize that stylized fact, we extend the canonical model by Barro and Becker (Econometrica 57:481–501, <CitationRef CitationID="CR1">1989</CitationRef>) to include two—instead of one—reproduction periods. We examine how the cost structure...</citationref>

This paper studies how the risk of divorce affects the human capital decisions of a young couple. We consider a setting where complete specialization is optimal with no divorce risk. Couples can self-insure through savings which offers some protection to the uneducated spouse, but at the expense...

This paper develops a model of inter vivos gifts and bequests in a setting of moral hazard and adverse selection. Altruistic parents do not perfectly know how much effort their children make to earn their living, nor do they know their true level of ability. Inter vivos gifts take place prior to...

This paper develops a model of inter vivos gifts and bequests in a setting of moral hazard and adverse selection. Altruistic parents do not perfectly know how much effort their children make to earn their living, nor do they known their true level of ability. Inter vivos gifts take place prior...