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Hodler, Roland; Yektas, Hadi - CESifo - 2013

nothing if it loses. We study a model of war with such an asymmetric payoff structure, and private information about military … win the war unless its expected military technology is considerably worse. Our model may thus explain why defending …

Persistent link: https://www.econbiz.de/10010668476

Aging, the Great Moderation and Business-Cycle Volatility in a Life-Cycle Model

Heer, Burkhard; Rohrbacher, Stefan; Scharrer, Christian - CESifo - 2014

According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to the conclusion that demographic change induces a drop in output volatility. We present an overlapping generations model that replicates the empirically observed pattern and...

Persistent link: https://www.econbiz.de/10010735186

Shop Around and You Pay More

Yan, Ji; Tian, Kun; Dixon, Huw D.; Heravi, Saeed; … - CESifo - 2014

We examine the relationship between the prices paid by households and their shopping patterns measured in terms of shopping frequency and the range of stores visited. We use the TNS data which allows us to control for household heterogeneity. The main contribution of the paper is that we find...

Persistent link: https://www.econbiz.de/10010888454

Risk, Return and Portfolio Allocation under Alternative Pension Arrangements with Imperfect Financial Markets

Miles, David; Cerny, Ales - CESifo - 2001

This paper uses stochastic simulations on calibrated models to assess the steady state impact of different pension arrangements in an environment where financial markets are less than perfect. Surprisingly little is known about the optimal split between funded and unfunded systems when there are...

Persistent link: https://www.econbiz.de/10005765958

Probabilistic Aging

Grafenhofer, Dominik; Jaag, Christian; Keuschnigg, Christian - CESifo - 2006

The paper develops an overlapping generations model with probabilistic aging of households. We define age as a set of personal attributes such as earnings potential, health and tastes that are characteristic of a person's position in the life-cycle. In assuming a limited number of different...

Persistent link: https://www.econbiz.de/10005181254

The Scandinavian Model – Prospects and Challenges

Andersen, Torben - CESifo - 2007

Scandinavian countries are often portrayed in policy debates as model examples having shown how to square concerns for efficiency and equity. The core principle of the Scandinavian welfare model is an individual entitlement to public sector provisions combined with collective financing via...

Persistent link: https://www.econbiz.de/10005405706

Are the Elderly a Threat to Educational Expenditures?

Cattaneo, Alejandra; Wolter, Stefan C. - CESifo - 2007

Empirical research has given cause to fear that the demographic ageing in industrialized countries is likely to exert a negative impact on educational spending. These papers have linked the share of the elderly with the per capita or per pupil spending on education at the local, state-wide or...

Persistent link: https://www.econbiz.de/10005405879

Demographic Change and Public Education Spending: A Conflict between Young and Old?

Grob, Ueli; Wolter, Stefan C. - CESifo - 2005

Demographic change in industrial countries will influence educational spending in potentially two ways. On the one hand, the decline in the number of school-age children should alleviate the financial pressure. On the other hand, the theoretical/empirical literature has established that the...

Persistent link: https://www.econbiz.de/10005094329

War and Democracy

Hess, Gregory D.; Orphanides, Athanasios - CESifo - 1999

international conflict. In this paper, we investigate whether this motive is sufficiently important for war to persist in …This paper presents a general equilibrium model of conflict based on a world populated by representative democracies … conflict is va luable to voters, an incumbent leader seeking reelection may be tempted into potentially avoidable conflicts to …

Persistent link: https://www.econbiz.de/10005765879

Voting under the Threat of Secession: Accommodation vs. Repression

Anesi, Vincent; Donder, Philippe De - CESifo - 2011

We build a model of secession crises where voters may wish to accommodate the minority to prevent secession. We show the existence of a majority voting equilibrium with a government’s type biased in favor of the minority. We propose a measure of secession risk and perform the comparative...

Persistent link: https://www.econbiz.de/10009021235