This paper looks inside the “black box” of the family and examines the determinants of inter vivos transfers in the form of allowances given to children. We consider in a simple model two main competing explanations for the transfer of money from parents to children in the form of regular...

In this paper it is argued that the risk-pooling role of unemployment beneÞts affects the irreversible choices of future labour market entrants. One such ex ante choice is education. Some types of education lead to general human capital that lead to almost certain employment. Other types of...

In this paper it is argued that the risk-pooling role of unemployment benefits affects the irreversible choices of future labour market entrants. One such ex ante choice is education. Some types of education lead to general human capital that lead to almost certain employment. Other types of...