Due to exceptionally low birth rates, the dynamism of Europe will be lagging behind that of other regions of the world for the time being. The paper assembles a rich body of comparative empirical data to clarify the extent of the demographic problems for the EU countries. It advances the view...

Marshall's notion of the representative firm can be read as a macro notion with some resemblance to Keynes' aggregative concepts. Keynes' notions of aggregate demand and aggregate supply are fashioned after Marshall's definitions of demand and supply. Keynes starts with the Marshallian...

Although it is not possible, in general, to give a macro description of a micro model over the entire state space of the micro model, it is possible to aggregate exactly over a subspace. The set of micro states where aggregation is possible forms the aggregation set. The paper considers the...

A labor market is considered that is characterized by job competition over job ladders. Firms paying more for comparable jobs can attract workers with better background characteristics (with general human capital) and will lose fewer trained workers (with general and firm-specific human...

This article assesses the role of the public sector in adaptation to climate change. We first offer a definition and categorization of climate change adaptation. We then consider the primary economic principles that can guide the assignment of adaptation tasks to either the private or the public...