An extensive climate policy literature provides various recommendations, but they are not supported democratically since the models employed consider either infinitely-lived individuals or normative social objectives (or both). In contrast, the present paper provides policy recommendations that...

In this paper, we analyze how to utilize discount rates in intergenerational projects. Firstly, neoclassical decision-making is depicted in Ramsey and overlapping-generations models (OLG-models). Afterwards we investigate the utilization of time preference rates and opportunity cost rates in an...

The prevailing literature discusses intergenerational trade-offs predominantly in infinitely-lived agent models despite the finite lifetime of individuals. We discuss these trade-offs in a continuous time OLG framework and relate the results to the infinitely-lived agent setting. We identify...

The prevailing literature discusses intergenerational trade-offs predominantly in infinitely-lived agent models despite the finite lifetime of individuals. We discuss these trade-offs in a continuous time OLG framework and relate the results to the infinitely-lived agent setting. We identify...

Das Institut für Wirtschaftsforschung Halle (IWH) veranstaltet unter Federführung der Forschungsabteilung Stadtökonomik alle zwei Jahre das „Hallesche Kolloquium zur kommunalen Wirtschaft“. Vor dem Hintergrund der kommunalen Gebietsreformen in Ostdeutschland befasste sich die...

We model the decision problems faced by the members of societies whose new members are determined by vote. We adopt a number of simplifying assumptions: the founders and the candidates are fixed; the society operates for a fixed number of periods and holds elections at the beginning of each period;...

We analyze a simple model of local public good provision in a country consisting of a large number of heterogeneous regions, each comprising two districts, a city and a village. When districts remain autonomous and local public goods have positive spillover effects on the neighbouring district,...

We analyze a simple model of local public good provision in a country consisting of a large number of heterogeneous regions, each comprising two districts, a city and a village. When districts remain autonomous and local public goods have positive spillover effects on the neighboring district,...

We analyze a simple model of local public good provision in a region comprising two districts, a city and a village. When districts remain autonomous and local public goods have positive spillover effects on the neighboring district, there is underprovision of public goods in both the city and...

The COVID pandemic caused the political competition between the prime ministers of the German states to reach its peak. Whoever is the best at announcing, launching, or implementing policies to combat the pandemic can hope to capitalize most politically. In this paper, we attempt to document...