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A Stochastic Model of Mortality, Fertility, and Human Capital Investment
Uncertainty Precautionary demand Quality-Quantity trade off
2015/9/21
This paper examines the relationship between fertility and human capital investment,
and it’s implications for economic growth, focusing on the effects of declining mortality.
Unlike the exist...
Capital Controls,Risk and Liberalization Cycles
Business Cycles Development Economics Voting Risk and Uncertainty Cash Flow Saving
2015/5/14
The paper presents an overlapping-generations model where agents vote on whether to open or close the economy to international capital flows. Political decisions are shaped by the risk over capital an...
We use highly disaggregated data on trade in capital goods to study differences in the price of capital across countries. This strategy is motivated by the fact that most countries import the bulk of ...