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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 personal attributes such as earnings potential, health and tastes that are characteristic of a person's position in the life-cycle. In assuming a limited number of different...
Persistent link: https://www.econbiz.de/10005181254
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Aging, the Great Moderation and Business-Cycle Volatility in a Life-Cycle Model
Heer, Burkhard; Rohrbacher, Stefan; Scharrer, Christian - CESifo - 2014
According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to the conclusion that demographic change induces a drop in output volatility. We present an overlapping generations model that replicates the empirically observed pattern and...
Persistent link: https://www.econbiz.de/10010735186
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Employment and Welfare Effects of a Two-Tier Unemployment Compensation System
Heer, Burkhard - CESifo - 2000
In many OECD countries, e.g. in Germany, France, or the UK, unemploy-ment compensation consists of unemployment insurance and unemployment assistance. Unemployment assistance is provided subsequent to the expiration of entitlement to unemployment insurance and is lower. The effects of this...
Persistent link: https://www.econbiz.de/10005094422
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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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Fertility, Mortality, and the Developed World’s Demographic Transition
Fehr, Hans; Jokisch, Sabine; Kotlikoff, Laurence - CESifo - 2004
changes in fertility and mortality on the developed world’s demographic transition. The model features three regions – the U ….S., Japan, and the EU-15 – and incorporates age- and time-specific fertility and mortality rates, detailed fiscal institutions … economic consequences of both higher fertility and lower mortality rates. The simulations indicate very minor effects on the …
Persistent link: https://www.econbiz.de/10005094438
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Does Parental Education Affect Fertility? Evidence from Pre-Demographic Transition Prussia
Becker, Sascha O.; Cinnirella, Francesco; Woessmann, Ludger - CESifo - 2011
factors underlying historical fertility limitation, the role of parental education has received little attention. We combine … their fertility before the demographic transition. Despite controlling for several demand and supply factors, we find a … negative residual effect of women's education on fertility. Instrumental-variable estimates, using exogenous variation in women …
Persistent link: https://www.econbiz.de/10009020793
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Low Altruism, Austerity, and Aversion to Default: Are Countries Converging to the Natural Debt Limit?
Bohn, Henning - CESifo - 2013
Democracies around the world are making promises to the old at the expense of future generations. I interpret this as reflecting low altruism—a discount rate on children’s utility greater than the world interest rate—and I examine the implications in a small open economy with overlapping...
Persistent link: https://www.econbiz.de/10010877813
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Provision of a Public Good with Altruistic Overlapping Generations and Many Tribes
Karp, Larry S. - CESifo - 2012
Intergenerational altruism and contemporaneous cooperation are both important to the provision of long-lived public goods. Equilibrium climate protection may depend more sensitively on either of these considerations, depending on the type of policy rule one examines. This conclusion is based on...
Persistent link: https://www.econbiz.de/10010877869
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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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Life in Shackles? The Quantitative Implications of Reforming the Educational Loan System
Heijdra, Ben J.; Kindermann, Fabian; Reijnders, Laurie S. M. - CESifo - 2014
generation. Cohorts alive at the time of the shock are worse off while ex-ante welfare of future cohorts increases. The gains to …
Persistent link: https://www.econbiz.de/10010948864