We consider an optimal consumption and pollution problem that has two important features. Environmental damages due to economic activities may be irreversible and the level at which the degradation becomes irreversible is unknown. Particular attention is paid to the situation where agents are...

In the U.S, after age 65, households face income and health risks and a large fraction of these risks are transitory. While consumption significantly responds to transitory income shocks, out-of-pocket medical expenses do not. In contrast, both consumption and out-of-pocket medical expenses...

What explains Germany's superb export performance? Is Germany's export behaviour very distinct compared to other European countries? We explore the organisational responses to competition of 14,000 exporting firms in seven European countries. We examine the export business model of the median...

Given the exposure to stressors in their home countries, during their migration and in the phase after arrival, refugees are particularly vulnerable to mental health problems. At the same time, their access to adequate healthcare and other social infrastructure might be hampered by factors such...