The purpose of this paper is to contribute a new model of the Gold Standard, focusing on the interaction between resource scarcity and demographics. In a dynamic micro-founded model we find that: i) prices and equilibrium gold holdings increase with population (a scale effect), but decrease with...

A dynamic model of a terrorist organization is presented with the defining feature being that a succession of operatives is recruited at different points in time. Consequently, a government’s counterterror policy must be tailored according to the vintage structure of the terrorist group...

This study develops a vintage model of the tenure and academic promotion process within the American higher education system. In this process, one’s professional academic achievements and the characteristics of one’s university affiliation work to either increase or reduce the probability of...