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Population ageing, labour markets and the outlook for public finances

Kinnunen, Helvi - EconWPA - 2004

Keeping public finances on a sustainable foundation while the population ages is clearly a problem in Finland, as in many other western countries. The shrinking of the working-age population, ageing of the labour force, and growth in the number of very old persons form a difficult combination...

Persistent link: https://www.econbiz.de/10005412491

Can Skill Biased Technological Progress Have a Role in the Decline of the Savings Rate?

Chanda, Areendam - EconWPA - 2002

This paper explores the consequences of skill biased technological progress on the savings rates. The literature, both theoretical and empirical, on the causes and consequences of skill biased technological progress in the past few years has burgeoned considerably. So has the literature on...

Persistent link: https://www.econbiz.de/10005412682

Sustainability of the Slovenian Pension System: An Analysis with an Overlapping-generations General Equilibrium Model

Verbic, Miroslav; Majcen, Boris; Nieuwkoop, Renger van - EconWPA - 2005

The article presents an analysis of welfare effects in Slovenia, an analysis of macroeconomic effects of the Slovenian pension reform and an analysis of effects of the pension fund deficit on sustainability of Slovenian public finances with a dynamic OLG general equilibrium model. It has been...

Persistent link: https://www.econbiz.de/10005125636

The Role of Endogenous Skill Choice in an Aging Economy

Jaag, Christian - EconWPA - 2005

This chapter analyzes the effects of an aging population on individual skill choices and the production structure by means of a dynamic general equilibrium model with overlapping generations and probabilistic aging. The model allows for capital-skill complementarity, which strongly affects the...

Persistent link: https://www.econbiz.de/10005408449

Time over the Life Course: Preferences, Options and Life Course Policy

Groot, Loek; Breedveld, Koen - EconWPA - 2004

This article has a twofold objective and addresses two central questions. Is there a gap between the preferences for and availability of various ways to make working patterns more flexible over the life course? What is the role of life course policy (LCP) in narrowing this gap? Using the...

Persistent link: https://www.econbiz.de/10005556954

Asset Price Bubbles and Crashes with Near-Zero-Intelligence Traders: Towards an Understanding of Laboratory Findings

Duffy, John; Unver, M. Utku - EconWPA - 2003

We examine whether a simple agent--based model can generate asset price bubbles and crashes of the type observed in a series of laboratory asset market experiments beginning with the work of Smith, Suchanek and Williams (1988). We follow the methodology of Gode and Sunder (1993, 1997) and...

Persistent link: https://www.econbiz.de/10005076911

Adaptive learning and multiple equilibria in a natural rate monetary model with unemployment persistence

Rantala, Anssi - EconWPA - 2004

This paper demonstrates that the adaptive learning approach to modelling private sector expectations can be used as an equilibriumselection mechanism in a natural-rate monetary model with unemployment persistence. In particular, it is shown that only one of the two rational expectations...

Persistent link: https://www.econbiz.de/10005125682

The Neural Basis of Financial Risk Taking

Kuhnen, Camelia; Knutson, Brian - EconWPA - 2005

optimal investment strategy of a rational risk- neutral agent as risk-seeking mistakes and risk-aversion mistakes. Nucleus … accumbens activation preceded risky choices as well as risk- seeking mistakes, while anterior insula activation preceded … riskless choices as well as risk-aversion mistakes. These findings suggest that distinct neural circuits linked to anticipatory …

Persistent link: https://www.econbiz.de/10005556666

Asymmetric Information in a Competitive Market Game: Reexamining the Implications of Rational Expectations

Jackson, Matthew O.; Peck, James - EconWPA - 1997

We examine price formation in a simple static model with asymmetric information, an infinite number of risk neutral …

Persistent link: https://www.econbiz.de/10005413256

Aging, Labor Markets and Pension Reform in Austria

Christian, Keuschnigg; Mirela, Keuschnigg - EconWPA - 2004

This paper investigates the dynamic consequences of demographic change and various pension reform scenarios for Austria. The analysis is based on a computable overlapping generations model with life-cycle labor supply, savings, and search unemployment. The public sector is decomposed into...

Persistent link: https://www.econbiz.de/10005125671

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