Showing 71 - 80 of 341
This paper shows that multiple growth paths may occur in a politico-economic model of endogenous growth. This multiplicity is characterized by the coexistence of a low-tax, low-capital-flight equilibrium and a high-tax, high-capital-flight equilibrium. The likelihood of multiplicity is crucially...
Persistent link: https://www.econbiz.de/10005661846
We document key facts about marriage and divorce, comparing trends through the past 150 years and outcomes across demographic groups and countries. While divorce rates have risen over the past 150 years, they have been falling for the past quarter century. Marriage rates have also been falling,...
Persistent link: https://www.econbiz.de/10005662232
Using a calibrated OLG model with several sources of uncertainty we find that the impact of ageing and of reform of social security upon the demand for housing and the level of owner occupation is substantial. The overall structure of household asset holdings – in particular the split between...
Persistent link: https://www.econbiz.de/10005662297
A growing economic literature stresses the importance of relative comparisons, e.g., for savings and consumption or happiness. In this literature it is usually assumed that reference standards against which people compare themselves are exogenously given. In contrast, findings from social...
Persistent link: https://www.econbiz.de/10005788919
This paper investigates the impacts of capital mobility and tax competition in a setting with imperfect matching between firms and workers. The small country attracts fewer firms than the large one but accommodates a share of the industry that exceeds its capital share - a reverse home market...
Persistent link: https://www.econbiz.de/10005791441
Political survey data for nine West European countries show that women have become increasingly left-wing compared to men, and that this trend is positively correlated with the decline in marriage in these countries. This pattern is mirrored in German longitudinal data (GSOEP), where transitions...
Persistent link: https://www.econbiz.de/10005123548
This paper decomposes the sources of risk to income that individuals face over their lifetimes. We distinguish productivity risk from employment risk and identify the components of each using the Survey of Income and Program Participation and the Panel Study of Income Dynamics. Estimates of...
Persistent link: https://www.econbiz.de/10005123649
In terms of the ratio of its public debt and public deficit to GDP the United States lies in the middle of the pack of industrial countries. The period since 1980 is the only peacetime period outside the Great Depression to see a sustained increase in the debt-GDP ratio. The budgetary...
Persistent link: https://www.econbiz.de/10005123675
This paper studies an overlapping generations model with stochastic production and incomplete markets to assess whether the introduction of an unfunded social security system leads to a Pareto improvement. When returns to capital and wages are imperfectly correlated a system that endows retired...
Persistent link: https://www.econbiz.de/10005123907
The pool of early retirees is characterized by a large heterogeneity along several criteria. The present paper focuses on the key distinction between those in forced early retirement and those who retire early by individual choice. We start by estimating a retirement probit model for older...
Persistent link: https://www.econbiz.de/10005123962