The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is...

We develop a model in which individuals choose education to improve their earnings and regulate the cultural traits they acquire via social transmission. When education makes individuals more receptive to mainstream culture, minority groups underinvest in education as a form of cultural...

In this paper, we incorporate a price search decision into a life cycle model and differentiate consumption from expenditure. Consumers with low wealth and bad income shocks search more for cheaper prices and pay less, which makes their consumption higher than in a model without search option. A...

This study sheds new light on the question of whether or not sentiment surveys, and the expectations derived from them, are relevant to forecasting economic growth and stock returns, and whether they contain information that is orthogonal to macroeconomic and financial data. I examine 16...

This paper uses a unique data set on more than 600,000 mortgage contracts to estimate a credit supply function which allows for risk-heterogeneity. Non-linearity is modelled using quantile regressions. We propose an instrumental variable approach in which changes in the tax treatment of housing...

This essential dimensions of microsimulation as an instrument to analyze and forecast the individual impacts of alternative economic and social policy measures are surveyed in this study. The basic principles of microsimulation, which is a tool for practical policy advising as well as for...

The present study is based on the survey of Below Poverty Line (BPL) families in Aonla Tehsil of the Bareilly district of Uttar Pradesh. This study takes in to account the housing characteristics, income consumption patterns, awareness as well as benefits received from the selected anti poverty...

The present paper offers empirical evidence for pareto-inefficiencies within German households. Using a large dataset from the German income tax statistic and conducting microsimulation analysis it refutes the assumption of pareto-efficiencies underlying the unitary as well as cooperative...

It is the growing societal interest about the individual and its behaviour in our and 'modern' societies which is asking for microanalyses about the individual situation. In order to allow these microanalyses on a quantitative and empirically based level microsimulation models were developed and...

In this paper I will introduce a new political economy model, where there exists a competition amongst two political candidates, which aim to set a policy which enables them to win elections, max- imising the probability of winning. I will show that, if taxes neces- sary to repay the debt are...