We study whether pessimism and optimism about the future by forward looking agents provides a rationale for pensions. We first distinguish between an agent's true and pessimistic preferences and then analyze whether this agent's level of saving depends on the pessimism parameter (π) and how...

We study whether pessimism and optimism about the future by forward looking agents provides a rationale for social security. We first distinguish between an agent's true and pessimistic preferences and then analyze whether this agent's level of saving depends on the pessimism parameter (π) and...

This paper analyses the relationship between spatial dynamics offirms and employment growth in the region. Moreover, it addresses thefacilitating or impeding role of (new) industrial sites in thegeographical process of firm and job dynamics, while recognising thatthe spatial dynamics of firms...

Immigration is a phenomenon of growing significance in many countries. Increasing social tensions are leading to political pressure to limit a further influx of foreign-born persons on the grounds that the absorption capacity of host countries has been exceeded and social cohesion threatened....