We discuss long-run growth in an economy which is subject toaggregate productivity shocks affecting all factors of production. Wedemonstrate that the presence of labor income risk unambiguously isan important determinant of long-run expected growth. The issue ofdynamic inefficiency of the...

This paper discusses a two-sector neoclassical overlapping generationseconomy with intermediate and final goods in the spirit of Romer(1990). The risk averse agents engage in one of two alternative occupations:either firm-ownership in the intermediate goods sector, characterizedby monopolistic...

There are robust gender differences in the domains of risk taking, overconfidence and competitionbehavior. However, as expertise tends to level these differences, we ask whether financialexperts still show gender dissimilarities in their domains of decision making? We analyzesurvey responses of...

This paper offers new insights into the Italian mutual fund industry. Surveying Italian professionals, we do notonly reveal typical gender differences but also detect divergence to their German counterparts. While disclosingItalian professionals’ overly positive self-assessment in general, we...