A model is presented that explains the mix between funded and unfunded pension systems. It turns out that total pension and the relative shares of the two systems may be explained and are determined by the population growth rate, technological growth, the time-preference discount rate, the...

A model is presented that explains the mix between funded and unfunded pension systems. It turns out that total pension and the relative shares of the two systems may be explained and are determined by the population growth rate, technological growth, the time-preference discount rate, the...

This discussion paper led to a publication in <A href="http://onlinelibrary.wiley.com/doi/10.1002/jae.1071/full"><I>Journal of Applied Econometrics</I></A>, 24(6), 993-1023.Parents’ transfer motives are important for understanding, e.g., macroeconomics, income (re)distribution, savings, and public finance. Using data from six biennial waves of the Health and Retirement...</i></a>

This paper develops a model for multi-store competition between firms. Using the fact that different firms have different outlets and produce horizontally differentiated goods, we obtain a pure strategy equilibrium where firms choose a different location for each outlet and firms' locations are...

Parents’ transfer motives are important for understanding, e.g., macroeconomics, income (re)distribution, savings, and public finance. Using data from six biennial waves of the Health and Retirement Study 1992–2002, we estimate grouped tobit-type latent variable models with multi-level error...

There is increasing empirical and experimental evidence that providing financial incentives to agents to perform certain socially desirable actions may permanently reduce other types of motivations to undertake these actions. We study the impact of financial incentives on the desire for social...

There has been a revival of interest in the effect of risk on economic growth. We quantify both ex ante and ex post effects of risk using a stochastic version of the Ramsey model. We develop a simulation-based econometric methodology which allows us to estimate the model in the structural form...

In this paper the efficient allocation of natural recreational areas is analysed. Natural recreational areas have the features of public goods. We present the efficient allocation of this non-excludable public good in a rational general equilibrium model with heterogeneous agents. This allows us...

In this paper the efficient allocation of natural recreational areasis analysed. Natural recreational areas have the features of publicgoods. We present the efficient allocation of this non-excludablepublic good in a rational general equilibrium model withheterogeneous agents. This allows us to...

This discussion paper resulted in a publication in the 'World Bank Economic Review', 2007, 21, 1-20.<p> There has been a revival of interest in the effect of risk on economic growth. We quantify both ex ante and ex post effects of risk using a stochastic version of the Ramsey model. We develop a...</p>