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Stimulating Annuity Markets
Heijdra, Ben J.; Mierau, Jochen O.; Trimborn, Timo - CESifo - 2014
We study the short-, medium-, and long-run implications of stimulating annuity markets in a dynamic general-equilibrium overlapping-generations model. We find that beneficial partial-equilibrium effects of stimulating annuity markets are counteracted by negative general-equilibrium...
Persistent link: https://www.econbiz.de/10010781542
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Probabilistic Aging
Grafenhofer, Dominik; Jaag, Christian; Keuschnigg, Christian - CESifo - 2006
The paper develops an overlapping generations model with probabilistic aging of households. We define age as a set of … probabilistic aging model thus allows for a very parsimonious yet rather close approximation of demographic structure and life …
Persistent link: https://www.econbiz.de/10005181254
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Private, Social and Self-Insurance for Long-Term Care in the Presence of Family Help - A Political Economy Analysis
Donder, Philippe De; Pestieau, Pierre - CESifo - 2013
We study the political determination of the level of social long-term care insurance when voters also choose private insurance and saving amounts. Agents differ in income, probability of becoming dependent and of receiving family help. Social insurance redistributes across income and risk...
Persistent link: https://www.econbiz.de/10010693474
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Transfers within a three Generations Family: When the Rotten Kids Turn into Altruistic Parents
Cremer, Helmuth; Roeder, Kerstin - CESifo - 2014
We study exchanges between three overlapping generations with non-dynastic altruism. The middleaged choose informal care provided to their parents and education expenditures for their children. The young enjoy their education, while the old may leave a bequest to their children. Within each...
Persistent link: https://www.econbiz.de/10010790169
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Long-Term Care Policy, Myopia and Redistribution
Cremer, Helmuth; Roeder, Kerstin - CESifo - 2012
This paper examines whether myopia (misperception of the long-term care (LTC) risk) and private insurance market loading costs can justify social LTC insurance and/or the subsidization of private insurance. We use a two-period model wherein individuals differ in three unobservable...
Persistent link: https://www.econbiz.de/10010693464
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The Effect of Long-Term-Care Subsidies on Female Labor Supply and Fertility
Korn, Evelyn; Wrede, Matthias - CESifo - 2012
Fertility and the provision of long-term care are connected by an aspect that has not received attention so far: both are time consuming activities that can be produced within the household or bought at the market and are, thus, connected through the intertemporal budget constraint of the...
Persistent link: https://www.econbiz.de/10010693466
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Fiscal Policy and Dutch Disease
Ploeg, Frederick Van der - CESifo - 2011
In this paper we revisit the Dutch disease paying particular attention to the role of specific factors of production and capital stock dynamics. The main insight is that if the natural resource rich windfall is substantial but not large enough for the country to become a rentier, capital goods...
Persistent link: https://www.econbiz.de/10008914280
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Funded and Unfunded Pension Schemes: Risk, Return and Welfare
Miles, David K. - CESifo - 2000
This paper uses stochastic simulations on calibrated models to assess the optimal degree of reliance on fun ded pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between funded and unfunded systems when there are sources of...
Persistent link: https://www.econbiz.de/10005181541
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Population, Pensions, and Endogenous Economic Growth
Heer, Burkhard; Irmen, Andreas - CESifo - 2008
We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...
Persistent link: https://www.econbiz.de/10005406263
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Population Aging and the Direction of Technical Change
Irmen, Andreas - CESifo - 2009
change and population aging. Following an intuition often attributed to Hicks (1932), I ask whether and how population aging …. Aging is equivalent to an increase in the old-age dependency ratio of an OLG-economy with two-period lived individuals. In … this framework aging increases the relative scarcity of labor with respect to capital. Therefore, there will be more labor …
Persistent link: https://www.econbiz.de/10008572495