Using municipality-level data of Japan, this paper empirically examines how the capacity of long-term care insurance facilities impacts interregional migration of the elderly. We construct net-migration data of the elderly population in each municipality by combining statistics available from...

In a multi-country general equilibrium economy with mobile capital and rigid-wage unemployment, countries may differ in capital endowments, production technologies and rigid wages. Governments tax capital at the source to maximize national welfare. They account for tax base responses to their...

Ist die Arbeitsnachfragekurve eher steil oder eher flach? Die diesbezüglichen Überlegungen von John Hicks (1932) und Alfred Marshall (1920) haben nichts an Aktualität verloren. Ihre vier Gesetze der Nachfrage sind nach wie vor Ausgangspunkt vieler Studien zur Theorie und Empirie der...

In this paper we investigate the twofold effect of demographics on international factor flows in a model with endogenous policy constraints on both foreign direct investment and migration. Factor price differences between industrialized and developing countries create economic incentives for...

This paper sets up a model of endogenous product differentiation to analyze the variety effects of international trade. In our model multi-product firms decide not only about the number of varieties they supply but also about the degree of horizontal differentiation between these varieties....

In this paper, we study the effects of euro area and US macroeconomic news on financial markets in the Czech Republic, Hungary, and Poland (CEEC-3) from 1999 to 2006. Using a GARCH model, we examine the impact on daily returns of three-month interest rates, stock market indices, exchange rates...