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Tax Incentives, Bequest Motives, and the Demand for Life Insurance: Evidence from two Natural Experiments in Germany
Sauter, Nicolas; Walliser, Jan; Winter, Joachim - CESifo - 2010
Whole life insurance plays an important role in household saving. However, empirical evidence on its determinants is scarce. This paper studies two natural experiments to identify the effects of tax incentives and bequest motives on life-insurance demand. An unanticipated tax reform in 2000...
Persistent link: https://www.econbiz.de/10008534059
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Private Investment in Higher Education: Comparing Alternative Funding Schemes
Eckwert, Bernhard; Zilcha, Itzhak - CESifo - 2008
This paper uses an overlapping generations framework to analyze the implications of different financing regimes in the education sector for human capital formation and economic welfare. Agents privately invest in education after they have received a noisy information signal about their...
Persistent link: https://www.econbiz.de/10005405995
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Human Capital Accumulation and the Macroeconomy in an Ageing Society
Heijdra, Ben J.; Reijnders, Laurie S. M. - CESifo - 2012
How do population ageing shocks affect the long-run macroeconomic performance of an economy? To answer this question we build a general equilibrium overlapping generations model of a closed economy featuring endogenous factor prices. Finitely-lived individuals are endowed with perfect foresight...
Persistent link: https://www.econbiz.de/10010877922
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Ageing and Growth in the Small Open Economy
Heijdra, Ben J.; Romp, Ward E. - CESifo - 2006
the mortality process. Agents engage in educational activities at the start of life and thus create human capital to be …
Persistent link: https://www.econbiz.de/10005094204
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Retirement, Pensions, and Ageing
Heijdra, Ben J.; Romp, Ward E. - CESifo - 2007
mortality process. Individual agents choose their optimal retirement age, taking into account the time- and age profiles of …
Persistent link: https://www.econbiz.de/10005094360
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Optimal Pensions in Aging Economies
Heer, Burkhard - CESifo - 2015
Ýmrohoroðlu, Ýmrohoroðlu and Joines [1995, A life-cycle analysis of Social Security, Economic Theory, vol. 6, 83-114] show that the optimal replacement ratio of the payas-you-go public pension system in the US economy amounts to 30%. We extend their analysis to a model that 1) replicates the...
Persistent link: https://www.econbiz.de/10011163065
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The Impact of Financial Education on Adolescents' Intertemporal Choices
Lührmann, Melanie; Serra-Garcia, Marta; Winter, Joachim - CESifo - 2014
We study the impact of financial education on intertemporal choice in adolescence. The program was randomly assigned among high-school students and intertemporal choices were measured using an incentivized experiment. Students who participated in the program display a decrease in time...
Persistent link: https://www.econbiz.de/10011274344
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Exchange Rate Expectations of Chartists and Fundamentalists
Dick, Christian D.; Menkhoff, Lukas - CESifo - 2013
This paper provides novel evidence on exchange rate expectations of both chartists and fundamentalists separately. These groups indeed form expectations differently. Chartists change their expectations more often; however, all professionals’ expectations vary considerably as they generally...
Persistent link: https://www.econbiz.de/10010636592
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Compulsory Schooling Reforms, Education and Mortality in Twentieth Century Europe
Gathmann, Christina; Jürges, Hendrik; Reinhold, Steffen - CESifo - 2012
mortality reductions. Using data from 19 compulsory schooling reforms implemented in Europe during the twentieth century, we … example, report contradictory effects of education and compulsory schooling on mortality - ranging from zero to large … quantify the mean mortality effect and explore its dispersion across gender, time and countries. We find that men benefit from …
Persistent link: https://www.econbiz.de/10009653371
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Optimal Taxation, Child Care and Models of the Household
Apps, Patricia; Rees, Ray - CESifo - 2014
This paper presents the properties of optimal piecewise linear tax systems for two-earner households, based on joint and individual incomes respectively. A key contribution is the analysis of the interaction between second earner wage differences, variation in the price of child care and...
Persistent link: https://www.econbiz.de/10010877775