This paper analyzes the sustainability of intergenerational transfers in politico-economic equilibrium. We argue that this transfers arise naturally in a Markow perfect equilibrium in the fundamental state variables. In contrast to earlier literature, our explanation does not resort to altruism,...

After home rule in 1979 Greenland gradually takes over expenditure of general government from Denmark during the 1980ies. Step by step Denmark gives a subsidy to Greenland covering what were the Danish expenditures. Nearly the entire subsidy comes in four lumps, 1980, 1985, 1987 and 1992....

Estonian Abstract: Eesti kõrgkoolide jaoks on pea kogu taasiseseisvumise perioodil olnud üleval küsimused kõrghariduse finantseerimisest ja töötajate suhteliselt madalatest palkadest. Võib ütelda, et kuigi need küsimused on nüüd ka ametiühingute poolt üles tõstetud, on lahendustega...