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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe
Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015
withdrawal of employers and external insurers as risk bearers of systematic financial and longevity risks. Partly because of … pension: the Personal Pension with Risk sharing (PPR). By unbundling and valuing the investment, (dis)saving, insurance and … risk-sharing functions of pensions, PPRs allow risk management and (dis)saving to be customized to the specific features of …
Persistent link: https://www.econbiz.de/10011252616
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Incomplete-Market Equilibria Solved Recursively on an Event Tree
Dumas, Bernard J; Lyasoff, Andrew - C.E.P.R. Discussion Papers - 2009
We develop a method that allows one to compute incomplete-market equilibria routinely for Markovian equilibria (when they exist). The main difficulty to be overcome arises from the set of state variables. There are, of course, exogenous state variables driving the economy but, in an incomplete...
Persistent link: https://www.econbiz.de/10005124234
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Completing the Internal Market in the European Community: Some Industry Simulations
Smith, Alasdair; Venables, Anthony J - C.E.P.R. Discussion Papers - 1988
This paper studies the effects of changes in the internal market of the European Community in a partial equilibrium model of imperfect competition with economies of scale. The model is numerically calibrated to data on ten industries and the effects of two types of policy change are simulated....
Persistent link: https://www.econbiz.de/10005662157
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Redistribution Policy: A European Model
Casella, Alessandra - C.E.P.R. Discussion Papers - 2002
Following the rationale for regional redistribution programmes described in the official documents of the European Union, this Paper studies a very simple multi-country model built around two regions: a core and a periphery. Technological spillovers link firms’ productivity in each of the two...
Persistent link: https://www.econbiz.de/10005662349
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Monetary Integration and Economic Convergence
Sibert, Anne - C.E.P.R. Discussion Papers - 1997
Recent research in contract theory views ownership as a substitute for complete contracts. In this paper this approach …
Persistent link: https://www.econbiz.de/10005662405
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The Consequences of German Economic and Monetary Union
Burda, Michael C - C.E.P.R. Discussion Papers - 1990
This paper analyzes some of the consequences of economic and monetary union of the two Germanies. Particular emphasis is given to the real implications for the supply side of the German Democratic Republic and for resource flows between two economic regions.
Persistent link: https://www.econbiz.de/10005666402
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Was Germany Ever United? Evidence from Intra- and International Trade, 1885 -1933
Wolf, Nikolaus - C.E.P.R. Discussion Papers - 2008
This paper asks whether Germany was ever an economically integrated area. I explore the geography of trade costs in a new data set of about 40,000 observations on regional trade flows within and across the borders of Germany over the period 1885 – 1933. There are three key results. First, the...
Persistent link: https://www.econbiz.de/10005666571
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European and American Regionalism: Effects on and Options for Asia
Anderson, Kym; Snape, Richard H - C.E.P.R. Discussion Papers - 1994
This paper addresses several questions of concern to economies excluded from the world's two major trading blocs <196> the European Union (EU) and the North American Free Trade Association (NAFTA). First, is there evidence from the past that suggests the direct and indirect effects of regional...</196>
Persistent link: https://www.econbiz.de/10005667022
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Borders and Growth
Spolaore, Enrico; Wacziarg, Romain - C.E.P.R. Discussion Papers - 2005
This paper presents a framework to understand and measure the effects of political borders on economic growth and per capita income levels. In our model, political integration between two countries results in a positive country size effect and a negative effect through reduced openness...
Persistent link: https://www.econbiz.de/10005667135
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Welfare Effects of `1992': A General Equilibrium Assessment for EC and EFTA Countries
Haaland, Jan I. - C.E.P.R. Discussion Papers - 1993
In this paper production, trade and welfare effects of European integration are discussed, with particular emphasis on the effects for the EC and EFTA. Insight from previous partial and general equilibrium analyses of the internal market are reviewed, and new model simulations are presented. In...
Persistent link: https://www.econbiz.de/10005791472