In The Decline of the Welfare State, Assaf Razin and Efraim Sadka use a political economy framework to analyze the effects of aging populations, migration, and globalization on the deteriorating system of financing welfare state benefits as we know them. Their timely analysis, supported by a...

In this paper, we present a model in which the performing arts are modelled as congestible public goods. In accordance with empirical evidence, the production of seat capacity is assumed to be subject to fixed costs. We estimate the parameters of the model's demand and cost functions using...

In many countries the provision of the performing arts is assigned to the public sector. Public theaters cover most of their costs by subsidies rather than ticket sale. Moreover, relatively low utilization of capacity suggests that there are large and persistent over-capacities in the market. In...