Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...

Building on the epidemiological SIR model we present an economic model with heterogeneous individuals deriving utility from social contacts creating infection risks. Focusing on social distancing of individuals susceptible to an infection we theoretically analyze the gap between private and...

This study deals with a specific volunteering aspect revealed in the German refugee crisis 2015/16. German federalism prescribing interjurisdictional assignments of tasks for designing, financing and implementing services for refugees and their geographic distribution have made municipalities...