This paper provides empirical evidence on the effect of changing the retirement age on employment. Base on individual data from Hungary, a country where a number of hikes increased the retirement age between 1997 and 2009, this analysis benefits from substantial variation in pension eligibility...

The paper attempts to identify causal effects of being enrolled in different educational tracks on student achievement in upper-secondary education in Hungary. Rejected and admitted students are compared who applied to the same school and performed similarly in the previous grade. Average...

We introduce a new class of cooperative games where the worth of a coalition depends on the behavior of other players and on the state of nature as well. we allow for coalitions to form both before and after the resolution of uncertainty, hence agreements must be stable against both types of...

Relocation is recently one of the most widely discussed problems, especially in the old member states of the European Union. At the same time, developments in the target countries of relocation are less widely discussed. Hungary, with other new EU member countries, is one of the net target...

In our model, the government operates a mandatory proportional (contributive) pension system to substitute for the low life-cycle savings of the low-paid myopes. The socially optimal contribution rate is high (equalizing young- and old-age consumption for them), while an appropriate cap on...

We study the transmission of monetary policy to macroeconomic variables with structural time-varying coefficient vector autoregressions in the Czech Republic, Hungary and Poland, in comparison with that in the euro area. These three countries have experienced changes in monetary policy regimes...

In this paper we investigate some new applications of Scarf's Lemma. First, we introduce the notion of fractional core for NTU-games, which is always nonempty by the Lemma. Stable allocation is a general solution concept for games where both the players and their possible cooperations can have...

This paper examines the impact of EU enlargement on agro-food export performance across 12 new EU member states and 5 newly independent states in the EU markets covering the period 1999-2007. The performance is examined by duration of export and hazard model. We find larger duration for the...

The tax system redistributes labor incomes among workers, the pension system redistributes incomes from workers to pensioners. We consider a linear transfer system, where workers pay pension contributions and personal income taxes and pensioners receive proportional benefits, while workers and...

A voting situation is given by a set of voters and the rules of legislation that determine minimal requirements for a group of voters to pass a motion. A priori measures of voting power, such as the Shapley-Shubik index and the Banzhaf value, show the influence of the individual players in a...