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Eine Ebene höher- Fakultäten (103917)
- Volkswirtschaft (3551)
- Lehrstühle (2340)
- CESifo-Professur für Vergleichende Institutionenökonomik (130)
- Lehrstühle (2340)
- Volkswirtschaft (3551)
Anzahl der Publikationen auf dieser Ebene: 130
2022
Munk, Martin D 
ORCID: https://orcid.org/0000-0002-7084-8651; Nikolka, Till ORCID: https://orcid.org/0000-0002-9229-3626 und Poutvaara, Panu ORCID: https://orcid.org/0000-0003-2070-784X
(2022):
International family migration and the dual-earner model.
In: Journal of Economic Geography, Bd. 22, Nr. 2: S. 263-287
ORCID: https://orcid.org/0000-0002-7084-8651; Nikolka, Till ORCID: https://orcid.org/0000-0002-9229-3626 und Poutvaara, Panu ORCID: https://orcid.org/0000-0003-2070-784X
(2022):
International family migration and the dual-earner model.
In: Journal of Economic Geography, Bd. 22, Nr. 2: S. 263-287
2018
Battisti, Michele; Felbermayr, Gabriel; Peri, Giovanni und Poutvaara, Panu
(1. August 2018):
Immigration, Search and Redistribution. A Quantitative Assessment of Native Welfare.
In: Journal of the European Economic Association, Bd. 16, Nr. 4: S. 1137-1188
Kanniainen, Vesa und Poutvaara, Panu
(2018):
The Economics of Peace and War: An Overview.
In: Cesifo Economic Studies, Bd. 64, Nr. 4: S. 545-554
Poutvaara, Panu und Ropponen, Olli
(2018):
Shocking news and cognitive performance.
In: European Journal of Political Economy, Bd. 51: S. 93-106
Poutvaara, Panu und Steinhardt, Max Friedrich
(2018):
Bitterness in life and attitudes towards immigration.
In: European Journal of Political Economy, Bd. 55: S. 471-490
2017
Berggren, Niclas; Jordahl, Henrik und Poutvaara, Panu
(2017):
The right look: Conservative politicians look better and voters reward it.
In: Journal of Public Economics, Bd. 146: S. 79-86
Edo, Anthony; Öztunc, Jonathan und Poutvaara, Panu
(2017):
Immigration and Extreme Voting. Evidence from France.
In: ifo DICE Report, Bd. 15, Nr. 4: S. 28-33
Kotakorpi, Kaisa; Poutvaara, Panu und Tervio, Marko
(2017):
Returns to Office in National and Local Politics: A Bootstrap Method and Evidence from Finland.
In: Journal of Law Economics & Organization, Bd. 33, Nr. 3: S. 413-442
Poutvaara, Panu
(2017):
How do candidates’ looks affect their election chances? Looks matter and can tip the scales between the right and left.
In: IZA World of Labor
Poutvaara, Panu
(2017):
Migrationsforschung am ifo Institut und die Herausforderung von intrainstitutionellen Abgrenzungen.
In: ifo Schnelldienst, Bd. 70, Nr. 13: S. 65-66
Poutvaara, Panu; Drometer, Marcus; Méango, Romuald; Nikolka, Till; Leithold, Daniel; Oesingmann, Katrin; Rumscheidt, Sabine und Wech, Daniela
(2017):
Employment effects of regulatory thresholds for French and German companies.
ifo Forschungsberichte, Bd. 83. Munich: ifo Institute.
Poutvaara, Panu; Nikolka, Till; Leithold, Daniel; Oesingmann, Katrin und Wech, Daniela
(2017):
Comparative study about the powers and the representativeness of employee representatives in French and German enterprises.
ifo Forschungsberichte, Bd. 84. ifo Institute: München.
Poutvaara, Panu und Priks, Mikael
(September 2017):
Prevention of Football Hooliganism. A Review of the Evidence.
In: Sturmey, Peter (Hrsg.):
The Wiley Handbook of Violence and Aggression. Wiley-Blackwell.
2016
Dharmapala, Dhammika und Poutvaara, Panu
(2016):
Introduction to the special issue on Taxation in a Global Economy.
In: International Tax and Public Finance, Bd. 23, Nr. 4: S. 603-606
Falck, Oliver; Felbermayr, Gabriel; Jacob-Puchalska, Anita und Poutvaara, Panu
(2016):
Arbeitsmarktchancen von Flüchtlingen.
In: ifo Schnelldienst, Bd. 69, Nr. 4: S. 83-85
Poutvaara, Panu
(2016):
Einleitung. Die Migrationswelle: Hans-Werner Sinn und die Zuwanderungsdebatte.
In: Felbermayr, Gabriel; Knoche, Meinhard und Wößmann, Ludger (Hrsg.):
Hans-Werner Sinn und 25 Jahre deutsche Wirtschaftspolitik. München: Hanser. S. 222-223
Poutvaara, Panu und Wech, Daniela
(2016):
Integrating Refugees into the Labor Market. A Comparison of Europe and the United States.
In: ifo DICE Report, Bd. 14, Nr. 4: S. 32-43
2014
Miettinen, Topi und Poutvaara, Panu
(2014):
A market for connections.
In: European Journal of Political Economy, Bd. 33: S. 37-52
2013
Kanniainen, Vesa und Poutvaara, Panu
(2013):
An introduction.
In: Journal of Economic Behavior and Organization, Bd. 90: S. 134-136
Kotakorpi, Kaisa; Poutvaara, Panu und Terviö, Marko
(2013):
Returns to Office in National and Local Politics.
CESifo Working Paper,
Munk, Martin D.; Junge, Martin und Poutvaara, Panu
(2013):
International Migration of Couples.
NORFACE MIGRATION Discussion Paper,
Munk, Martin D.; Nikolka, Till und Poutvaara, Panu
(2013):
Family Decision-Making on International Migration.
Munk, Martin D. und Poutvaara, Panu
(2013):
Motivations and Earnings of Emigrants from a Rich Welfare State.
2012
Kauppinen, Ilpo und Poutvaara, Panu
(2012):
Preferences for Redistribution among Emigrantsfrom a Welfare State.
Ifo Working Paper,
Miettinen, Topi und Poutvaara, Panu
(2012):
A market for connections.
CESifo Working Paper: Public Choice,
Munk, Martin D.; Poutvaara, Panu und Foged, Mette
(2012):
Transnational Cultural Capital, Educational Reproduction, and Privileged Positions.
2011
Dreher, Axel und Poutvaara, Panu
(2011):
Foreign students and migration to the United States.
In: World Development, Bd. 39, Nr. 8: S. 1294-1307
Kauppinen, Ilpo und Poutvaara, Panu
(2011):
Family migration and policies: Lessons from denmark.
In: CESifo DICE Report, Bd. 9, Nr. 4: S. 37-40
Kotakorpi, Kaisa und Poutvaara, Panu
(2011):
Pay for politicians and candidate selection: An empirical analysis.
In: Journal of Public Economics, Bd. 95, Nr. 7-8: S. 877-885
Munk, Martin D.; Poutvaara, Panu und Foged, Mette
(2011):
Elite Education Abroad and Social Reproduction.
Poutvaara, Panu
(2011):
The expansion of higher education and time-consistent taxation.
In: European Journal of Political Economy, Bd. 27, Nr. 2: S. 257-267
Poutvaara, Panu und Priks, Mikael
(2011):
Unemployment and gang crime: Can prosperity backfire?
In: Economics of Governance, Bd. 12, Nr. 3: S. 259-273
Poutvaara, Panu und Wagener, Andreas
(2011):
Ending military conscription.
In: CESifo DICE Report, Bd. 9, Nr. 2: S. 36-43
Poutvaara, Panu und Wagener, Andreas
(2011):
The political economy of conscription.
In: Coyne, Christopher J. (Hrsg.):
The Handbook on the Political Economy of War. Cheltenham: Elgar. S. 154-174
2010
Berggren, Niclas; Jordahl, Henrik und Poutvaara, Panu
(2010):
The looks of a winner: Beauty and electoral success.
In: Journal of Public Economics, Bd. 94, Nr. 1-2: S. 8-15
Berggren, Niclas; Jordahl, Henrik und Poutvaara, Panu
(2010):
The right look: Conservative politicians look better than their voters reward it.
CESifo Working Paper: Public Choice,
Glazer, Amihai; Kanniainen, Vesa und Poutvaara, Panu
(2010):
Firms’ ethics, consumer boycotts, and signalling.
In: European Journal of Political Economy, Bd. 26, Nr. 3: S. 340-350
Keller, Katarina; Poutvaara, Panu und Wagener, Andreas
(2010):
Does a military draft discourage enrollment in higher education?
In: FinanzArchiv, Bd. 66, Nr. 2: S. 97-120
Kotakorpi, Kaisa und Poutvaara, Panu
(2010):
Pay for politicians and candidate selection: An empirical analysis.
CESifo Working Paper: Public Choice,
Poutvaara, Panu und Ropponen, Olli
(2010):
School Shootings and Student Performance.
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Poutvaara, Panu und Wagener, Andreas
(2010):
The invisible hand plays dice: multiple equilibria in sects markets.
In: Public Choice, Bd. 145, Nr. 3-4: S. 483-502
2009
Grossman, Volker und Poutvaara, Panu
(2009):
Pareto-improving bequest taxation.
In: International Tax and Public Finance, Bd. 16, Nr. 5: S. 647-669
Jordahl, Henrik; Poutvaara, Panu und Tuomala, Juha
(2009):
Comment on education returns of wage earners and self-employed workers.
Discussion Paper / Helsinki Center of Economic Research,
Jordahl, Henrik; Poutvaara, Panu und Tuomala, Juha
(2009):
Education returns of wage earners and self-employed workers: Comment.
In: Economics of Education Review, Bd. 28, Nr. 5: S. 641-644
Jordahl, Henrik; Poutvaara, Panu und Tuomala, Juha
(2009):
Education returns of wage earners and self-employed workers: Rejoinder.
In: Economics of Education Review, Bd. 28, Nr. 5: S. 648
Keller, Katarina; Poutvaara, Panu und Wagener, Andreas
(2009):
Does military draft discourage enrollment in higher education? Evidence from OECD countries.
CESifo Working Paper,
Keller, Katarina; Poutvaara, Panu und Wagener, Andreas
(2009):
Military draft and economic growth in oecd countries.
In: Defence and Peace Economics, Bd. 20, Nr. 5: S. 373-393
Koethenbuerger, Marko und Poutvaara, Panu
(2009):
Rent taxation and its intertemporal welfare effects in a small open economy.
In: International Tax and Public Finance, Bd. 16, Nr. 5: S. 697-709
Koskela, Erkki und Poutvaara, Panu
(2009):
Is there scope for gains from revenue - neutral labor tax reforms with flexible outsourcing?
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Munk, Martin D.; Junge, Martin und Poutvaara, Panu
(2009):
Self-Selection and Earnings of Emigrants from a Welfare State.
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Poutvaara, Panu; Jordahl, Henrik und Berggren, Niclas
(2009):
Faces of politicians: Babyfacedness predicts inferred competence but not electoral success.
Discussion Paper / Helsinki Center of Economic Research,
Poutvaara, Panu; Jordahl, Henrik und Berggren, Niclas
(2009):
Faces of politicians: Babyfacedness predicts inferred competence but not electoral success.
In: Journal of Experimental Social Psychology, Bd. 45, Nr. 5: S. 1132-1135
Poutvaara, Panu; Munk, Martin D. und Junge, Martin
(2009):
Self-selection and earnings of emigrants from a welfare state.
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Poutvaara, Panu und Priks, Mikael
(2009):
Hooliganism and police tactics.
In: Journal of Public Economic Theory, Bd. 11, Nr. 3: S. 441-453
Poutvaara, Panu und Priks, Mikael
(2009):
The effect of police intelligence on group violence: Evidence from reassignments in Sweden.
In: Journal of Public Economics, Bd. 93, Nr. 3-4: S. 403-411
Poutvaara, Panu und Wagener, Andreas
(2009):
The Invisible Hand Plays Dice: Multiple Equilibria in Sects Markets.
Discussion Paper / Helsinki Center of Economic Research,
Poutvaara, Panu und Wagener, Andreas
(2009):
The political economy of conscription.
CESifo Working Paper,
2008
Elinder, Mikael; Jordahl, Henrik und Poutvaara, Panu
(2008):
Selfish and prospective: theory and evidence of pocketbook voting.
CESifo Working Paper,
Glazer, Amihai; Kanniainen, Vesa und Poutvaara, Panu
(2008):
Firms’ ethics, consumer boycotts, and signalling.
CESifo Working Paper,
Glazer, Amihai; Kanniainen, Vesa und Poutvaara, Panu
(2008):
Income taxes, property values, and migration.
In: Journal of Public Economics, Bd. 92, Nr. 3-4: S. 915-923
Keller, Katarina; Poutvaara, Panu und Wagener, Andreas
(2008):
Military Draft and Economic Growth in OECD Contries.
Discussion Paper / Centre for Economic Policy Research (CEPR),
Koethenbuerger, Marko; Poutvaara, Panu und Profeta, Paola
(2008):
Why are more redistributive social security systems smaller? A median voter approach.
In: Oxford Economic Papers, Bd. 60, Nr. 2: S. 275-292
Koskela, Erkki und Poutvaara, Panu
(2008):
Equilibrium Unemployment with Outsourcing and Labour Taxation under both Unionized and Competitive Labour Markets.
Discussion Paper / Helsinki Center of Economic Research,
Koskela, Erkki und Poutvaara, Panu
(2008):
Flexible outsourcing and the impacts of labour taxation in European welfare states.
CESifo Working Paper,
Koskela, Erkki und Poutvaara, Panu
(2008):
Outsourcing and labor taxation in dual labor markets.
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Koskela, Erkki und Poutvaara, Panu
(2008):
Outsourcing and labor taxation in dual labor markets.
CESifo Working Paper,
Poutvaara, Panu
(2008):
On human capital formation with exit options: Comment and new results.
In: Journal of Population Economics, Bd. 21, Nr. 3: S. 679-684
Poutvaara, Panu
(2008):
Public and private education in an integrated Europe: Studying to migrate and teaching to stay?
In: Scandinavian Journal of Economics, Bd. 110, Nr. 3: S. 591-608
Poutvaara, Panu und Siemers, Lars-H. R.
(2008):
Smoking and social interaction.
In: Journal of Health Economics, Bd. 27, Nr. 6: S. 1503-1515
Poutvaara, Panu und Wagener, Andreas
(2008):
Why is the public sector more labor-intensive? A distortionary tax argument.
In: Journal of Economics / Zeitschrift für Nationalökonomie, Bd. 94, Nr. 2: S. 105-124
2007
Berggren, Niclas; Jordahl, Henrik und Poutvaara, Panu
(2007):
The looks of a winner: beauty, gender, and electoral success.
CESifo Working Paper,
Kanniainen, Vesa und Poutvaara, Panu
(2007):
Imperfect transmission of tacit knowledge and other barriers to entrepreneurship.
CESifo Working Paper,
Koethenbuerger, Marko und Poutvaara, Panu
(2007):
Rent Taxation in a Small Open Economy ; The Effect on Transitional Generations.
Discussion Paper / Centre for Economic Policy Research (CEPR),
Koethenbuerger, Marko und Poutvaara, Panu
(2007):
Rent taxation and its intertemporal welfare effects in a small open economy.
CESifo Working Paper,
Määttänen, Niku und Poutvaara, Panu
(2007):
Should old-age benefits be earnings-tested?
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Poutvaara, Panu
(2007):
Expansion of higher education and time-consistent taxation.
CESifo Working Paper,
Poutvaara, Panu
(2007):
Social security incentives, human capital investment and mobility of labor.
In: Journal of Public Economics, Bd. 91, Nr. 7-8: S. 1299-1325
Poutvaara, Panu und Priks, Mikael
(2007):
Hooliganism and police tactics: should tear gas make crime preventers cry?
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Poutvaara, Panu und Siemers, Lars-H. R.
(2007):
Smoking and social interaction.
CESifo Working Paper,
Poutvaara, Panu und Takalo, Tuomas
(2007):
Candidate quality.
In: International Tax and Public Finance, Bd. 14, Nr. 1: S. 7-27
Poutvaara, Panu und Wagener, Andreas
(2007):
To draft or not to draft? Inefficiency, generational incidence, and political economy of military conscription.
In: European Journal of Political Economy, Bd. 23, Nr. 4: S. 975-987
Priks, Mikael und Poutvaara, Panu
(2007):
Unemployment and Gang Crime ; Could Prosperity Backfire?
Discussion Paper / Centre for Economic and Business Research,
2006
Genser, Bernd; Koskela, Erkki und Poutvaara, Panu
(2006):
Editorial note.
In: FinanzArchiv, Bd. 62, Nr. 3: S. 392
Grossman, Volker und Poutvaara, Panu
(2006):
Pareto-improving bequest taxation.
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Köthenbürger, Marko und Poutvaara, Panu
(2006):
Social security reform and investment in education: Is there scope for a Pareto improvement?
In: Economica, Bd. 73, Nr. 290: S. 299-319
Köthenbürger, Marko und Poutvaara, Panu
(2006):
Social security reform and investment in education: Is there scope for a Pareto improvement?
In: Economica, Bd. 73, Nr. 290: S. 299-319
Miettinen, Topi und Poutvaara, Panu
(2006):
Political parties and network formation.
CESifo Working Paper,
Poutvaara, Panu
(2006):
On human capital formation with exit options: Comment and new results.
CESifo Working Paper,
Poutvaara, Panu
(2006):
On the political economy of social security and public education.
In: Journal of Population Economics, Bd. 19, Nr. 2: S. 345-365
Poutvaara, Panu
(2006):
Public education in an integrated Europe: studying to migrate and teaching to stay?
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Poutvaara, Panu und Priks, Mikael
(2006):
Hooliganism in the shadow of the 9/11 terrorist attack and the Tsunami: do police reduce group violence?
CESifo Working Paper,
Poutvaara, Panu und Wagener, Andreas
(2006):
The Economic Costs and the Political Allure of Conscription.
Discussion Paper / Helsinki Center of Economic Research,
Poutvaara, Panu und Wagener, Andreas
(2006):
To Draft or Not to Draft?
Discussion Paper / Helsinki Center of Economic Research,
2005
Dreher, Axel und Poutvaara, Panu
(2005):
Student flows and migration: An empirical analysis.
CESifo Working Paper,
Dreher, Axel und Poutvaara, Panu
(2005):
Student flows and migration: an empirical analysis.
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Glazer, Amihai; Kanniainen, Vesa und Poutvaara, Panu
(2005):
Income taxes, property values and migration.
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Koethenbuerger, Marko; Poutvaara, Panu und Profeta, Paola
(2005):
Why are More Redistributive Social Security Systems Smaller? A Median Voter Approach.
Discussion Paper / Helsinki Center of Economic Research,
Köthenbürger, Marko; Poutvaara, Panu und Profeta, Paola
(2005):
Why are more redistributive social security systems smaller? A median voter approach.
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Poutvaara, Panu
(2005):
On human capital formation with exit options: comment and new results.
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Poutvaara, Panu
(2005):
On the Political Economy of Social Security and Public Education.
Discussion Paper / Helsinki Center of Economic Research,
Poutvaara, Panu
(2005):
Social security incentives, human capital investment and mobility of labor.
CESifo Working Paper,
Poutvaara, Panu und Priks, Mikael
(2005):
Violent groups and police tactics: Should tear gas make crime preventers cry?
CESifo Working Paper,
Poutvaara, Panu und Takalo, Tuomas
(2005):
Candidate Quality.
Discussion Paper / Helsinki Center of Economic Research,
Poutvaara, Panu und Wagener, Andreas
(2005):
Why is the Public Sector More Labor-Intensive? A Distortionary Tax Argument.
Discussion Paper / Helsinki Center of Economic Research,
2004
Eerola, Essi; Määttänen, Niku und Poutvaara, Panu
(2004):
Citizens should vote on secession.
In: Topics in Economic Analysis and Policy, Bd. 4, Nr. 1: S. 629-650
Eerola, Essi; Määttänen, Niku und Poutvaara, Panu
(2004):
Citizens should vote on secession.
ETLA Discussion Papers, The Research Institute of the Finnish Economy (ETLA),
Glazer, Amihai; Kanniainen, Vesa und Poutvaara, Panu
(2004):
Initial Luck, Status-Seeking and Snowballs Lead to Corporate Success and Failure.
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Lau, Morten I.; Poutvaara, Panu und Wagener, Andreas
(2004):
Dynamic costs of the draft.
In: German Economic Review, Bd. 5, Nr. 4: S. 381-406
Poutvaara, Panu
(2004):
Educating Europe: Should Public Education be Financed with Graduate Taxes or Income-contingent Loans?
In: CESifo Economic Studies, Bd. 50, Nr. 4: S. 663-684
Poutvaara, Panu
(2004):
Gerontocracy revisited: Unilateral transfer to the young may benefit the middle-aged.
In: Journal of Public Economics, Bd. 88, Nr. 1-2: S. 161-174
Poutvaara, Panu
(2004):
Public education in an integrated Europe: Studying to migrate and teaching to stay?
CESifo Working Paper,
Poutvaara, Panu und Tuomala, Juha
(2004):
What Is Left to Residual Claimants? The Empirics of Income Reported by Entrepreneurs and Workers.
IZA Discussion Papers / Forschungsinstitut für Zukunft und Arbeit, Bonn,
Poutvaara, Panu und Wagener, Andreas
(2004):
The invisible hand plays dice: Eventualities in religious markets.
CESifo Working Paper,
2003
Poutvaara, Panu
(2003):
Investment in Education and Redistributive Taxation without Precommitment.
In: FinanzArchiv, Bd. 59, Nr. 2: S. 177-188
Poutvaara, Panu
(2003):
Party platforms with endogenous party membership.
In: Public Choice, Bd. 117, Nr. 1-2: S. 79-98
Poutvaara, Panu
(2003):
Wilson, John D.: The property tax: Competing views and a hybrid theory - Comments.
In: Cnossen, Sijbren und Sinn, Hans-Werner (Hrsg.):
Public finance and public policy in the new century. Cambridge and Mass.: MIT Press. S. 237-239
2002
Koethenbuerger, Marko und Poutvaara, Panu
(2002):
Social Security Reform and Intergenerational Trade: Is there Scope for a Pareto-Improvement?
CESifo Working Paper,
Lau, Morten I.; Poutvaara, Panu und Wagener, Andreas
(2002):
The Dynamic Cost of the Draft.
CESifo Working Paper,
2001
Lau, Morten I. und Poutvaara, Panu
(2001):
Social Security Incentives and Human Capital Investment.
CESifo Working Paper,
Poutvaara, Panu
(2001):
Alternative tax constitutions and risky education in a federation.
In: Regional Science and Urban Economics, Bd. 31, Nr. 2-3: S. 355-377
Poutvaara, Panu
(2001):
Gerontocracy Revisited: Unilateral Transfer to the Young May Benefit the Middle-Aged.
CESifo Working Paper,
2000
Poutvaara, Panu
(2000):
Education, mobility of labour and tax competition.
In: International Tax and Public Finance, Bd. 7, Nr. 6: S. 699-719
Poutvaara, Panu und Kanniainen, Vesa
(2000):
Why invest in your neighbor? Social contract on educational investment.
In: International Tax and Public Finance, Bd. 7, Nr. 4-5: S. 547-562
1999
Poutvaara, Panu
(1999):
Federation’s alternative tax constitutions and risky education.
ZEW Discussion Papers,
Poutvaara, Panu und Kanniainen, Vesa
(1999):
Why to Invest in your Neighbor? Social Contract on Educational Investment.
CESifo Working Paper,