A pay-as-you-go (paygo) pension program may provide intergenerational pooling of risks to individuals’ labor and capital income over the life cycle. By means of illuminating closed form solutions we demonstrate that the ...

Is internal wage dispersion good for firm productivity, or do internal wage differences break the conception of fairness and cause counterproductive behavior among workers? Contrary to previous empirical work that has ...

This paper provides an overview of problems related to the taxation of portfolio investments in an open economy. It starts by outlining empirical results on how taxation affects household portfolio structure and proceeds ...

The Internet can be seen as the convergence of different industries, such as telecommunication, software and media, into an international oligopoly offering complementary products. In most of these industries we have ...

This paper documents the extent of labour mobility from multinationals (MNEs) to non-MNEs in Norwegian manufacturing during the 1990s. On average, each year around one percent of workers in MNEs move to non-MNEs. By the ...

This paper addresses whether children’s exposure to parents receiving disability benefits induces a higher probability of receiving such benefits themselves. Most OECD countries experience an increasing proportion of the ...

We report an experimental test of the four touchstones of rationality in choice under risk – utility maximization, stochastic dominance, expected-utility maximization and small-stakes risk neutrality – with students from ...

It is well documented that displaced workers suffer severe earnings losses, but not why this is so. One reason may be that workers are unable or unwilling to move to regions with better employment opportunities. We study ...

The impact of technological progress on jobs and wages has been subject to much empirical and some theoretical work. However, most of this literature has not addressed the general equilibrium interplay between the productive ...