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...

This paper proposes studying export frequency of firms. While extensive margins of products and destination define the scope of firm's export, export shipment frequency is determined by sale method choice and cost structure of the trade technology. Exporters optimize the frequency of...

In this paper cost sharing problems are considered. We focus on problems on a rooted tree, we call these problems cost-tree problems, and on the induced transferable utility cooperative games, we call these games irrigation games. A formal notion of irrigation games is introduced, and the...

We analyze the impact of tax morale on the optimal progressive labor income taxation. Only universal basic income is financed from a linear tax and the financing of public goods is neglected. Each individual supplies labor and (un)declares earning, depending on his labor disutility and tax...

We use data on exchange rates and consumer price indices and the weighting matrix derived by Bayoumi, Lee and Jaewoo (2006) to calculate consumer price index-based REER. The main novelties of our database are that (1) it includes data for 178 countries -many more than in any other publicly...

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...

Global downturn in 2008 exerted strong adaptation pressures on China that incited prompt state response. The one-off large state intervention had consequences in several dimensions: on the one hand, it had a positive impact on the system's short-term economic, social and political stability by...

The article investigates the investment and financial constraints for French, Hungarian and Slovenian farms using FADN panel data with different econometric estimation approaches. Farm gross investment is positively associated with real sales growth and cash flow implying the absence of soft...

In his 1966 Inaugural Lecture at Cambridge, entitled On the Causes of the Slow Rate of Economic Growth in the UK, the Hungarian-born British economist, Nicholas Kaldor presented a series of "laws" to account for the growth rate differences between Britain on the one hand, and the more successful...

Rapid and thorough changes have recently taken place in dairy supply chain in the whole Central and Eastern Europe. Growing concerns have been expressed that these changes may negatively affect farmers' relative position towards downstream industry, due to market power exercised by the latter....