Literature on the informal economy can mainly be divided into two different contrasting theories. According to the dual labor market theory (DLM), which considers the informal economy as a spare sector providing jobs for formally unemployed resources, unpleasant economic situations force people...

In standard growth models such as Barro’s (1990), government size is related to economic growth within an inverted U-curve framework. However, the government’s involvement in the economy – in developing countries in general and in oil exporting countries in specific – is not restricted...

This paper presents a dynamic model of a public pension fund's choice of portfolio risk. Optimal portfolio allocations are derived when pension fund management maximize the utility of wealth of a representative taxpayer or when pension fund management maximize their own utility of compensation....

This paper presents a model of a public pension fund's choice of portfolio risk. Optimal portfolio allocations are derived when pension fund management maximize the utility of wealth of a representative taxpayer or when pension fund management maximize their own utility of compensation. The...

In this paper, we discuss the implications of financing constraints for future energy and climate scenarios. Aspirations to improve energy access and electrification rates in developing countries, while simultaneously reducing greenhouse gas emissions, can be seriously hindered by the...