Razin and Sadka (1999) show that unskilled immigration is beneficial to all income and all age groups in society, even if immigrants are net beneficiaries of the welfare system. Among other things, this result rests on the assumptions that immigrants have the same reproduction rate as the native...

We propose a life-cycle model of the housing market with a property ladder and a credit constraint. We focus on equilibria which replicate the facts that credit constraints delay some households' first home purchase and force other households to buy a home smaller than they would like. The model...

This paper studies majority voting on taxes when tax evasion is possible. We characterize the voting equilibrium where the agent with median taxed income is pivotal. Since the ranking of true incomes does not necessarily correspond to the ranking of taxed incomes, the decisive voter can differ...