Broadly speaking, institutional reformers decide about the sequencing of types of reforms, either addressing institutional quality or macroeconomic stability. This paper develops a dynamic population game, in which agents play a simple anonymous-exchange game of cooperating or defecting. Agents...

Cross-sector labor reallocation is associated with costs at the micro level ranging from the costs of geographical relocation and skill change/adaptation to unemployment. We show that monotonous reallocation paths minimize the aggregate reallocation costs in the three-sector framework (relating...

We use an experiment to test the hypothesis that groups consisting of like-minded cooperators are able to cooperate irrespective of punishment and therefore have a lower demand for a costly punishment institution than groups of like-minded free riders, who are unable to cooperate without...

In the United States, regions with more human capital tend to attract skilled workers (e.g., see Glaeser and Berry, 2005), and as a result, convergence between regions does not occur (e.g., see Barro and Sala-i-Martin, 1992). Presently, many of the most productive European workers try to migrate...

Implicit in the text-book monopoly is an assumption of complete and instantaneous information or knowledge available to economic agents at free of charge. Under such circumstances, knowing the certain price and cost functions, the monopolist can make an optimal decision of price and output to...

Germany like many other European countries subsidize commuting by granting the right to deduct commuting expenses from the income tax base. This regulation has often been changed and has regularly been under debate during the last decades. The pros (e.g. causing efficiency gains with respect to...

We develop a Financial Computable General Equilibrium Model (FCGE) model that can analyse the economic impacts of the infrastructure investment projects and their financing options on growth and distribution in Indonesia economy. It is possible to estimate growth and distributional effects of...

By focusing on the impacts of investment in the disaster areas for reconstruction on the demand-side effects, the purpose of this study is to measure the economic impacts and regional spillover effects of investment for reconstruction. After the Great East Japan Earthquake of 2011, government...

Transport sector has a long tradition of using the principles of practical cost benefit analysis (CBA) in project appraisal that analyses the primary impacts of transport investments. The standard transport project assessment is necessary but not sufficient for the estimation of the wider...

Åland Islands, a small Finnish island region with its own governmental powers, is rapidly aging together with its neighboring regions in mainland Finland and Sweden. The demographic momentum affects its labor market in various ways. Aging will keep exits from labor market high in the near...