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Incentive Effects of Social Security on Labor Force Participation : Evidence in Germany and Across Europe

Borsch-Supan, Axel - 1998

All across Europe, old age labor force participation has declined dramatically during the last decades. This secular trend coincides with population aging. The European social security systems therefore face a double threat: retirees receive pensions for a longer time while there are less...

Persistent link: https://www.econbiz.de/10012472033

Safety-Net Benefits Conferred on Difficult-to-Fail-and-Unwind Banks in the US and EU Before and During the Great Recession

Carbo-Valverde, Santiago - 2011

This paper models and estimates ex ante safety-net benefits at a sample of large banks in US and Europe during 2003-2008. Our results suggest that difficult-to-fail and unwind (DFU) banks enjoyed substantially higher ex ante benefits than other institutions. Safety-net benefits prove...

Persistent link: https://www.econbiz.de/10012461870

Evidence of Regulatory Arbitrage in Cross-Border Mergers of Banks in the EU

Carbo-Valverde, Santiago - 2009

Banks are in the business of taking calculated risks. Expanding the geographic footprint of an organization's profit-making activities changes the geographic pattern of its exposure to loss in ways that are hard for regulators and supervisors to observe. This paper tests and confirms the...

Persistent link: https://www.econbiz.de/10012463202

Evidence of Differences in the Effectiveness of Safety-Net Management in European Union Countries

Carbo-Valverde, Santiago - 2008

EU financial safety nets are social contracts that assign uncertain benefits and burdens to taxpayers in different member countries. To help national officials to assess their taxpayers' exposures to loss from partner countries, this paper develops a way to estimate how well markets and...

Persistent link: https://www.econbiz.de/10012464865

Incentive Conflict In Central-Bank Responses to Sectoral Turmoil in Financial Hub Countries

Kane, Edward J. - 2007

National safety nets are imbedded in country-specific regulatory cultures that encompass contradictory goals of nationalistic welfare maximization, merciful treatment of distressed institutions, and bureaucratic blame avoidance. Focusing on this goal conflict, this paper develops two hypotheses....

Persistent link: https://www.econbiz.de/10012465053

Inadequacy of Nation-Based and VaR-Based Safety Nets in the European Union

Kane, Edward J. - 2006

Considered as a social contract, a financial safety net imposes duties and confers rights on different sectors of the economy. Within a nation, elements of incompleteness inherent in this contract generate principal-agent conflicts that are mitigated by formal agreements, norms, laws, and the...

Persistent link: https://www.econbiz.de/10012466499

Can the European Community Afford to Neglect the Need for More Accountable Safety-Net Management?

Kane, Edward J. - 2005

As financial institutions and markets transact more and more cross-border business, gaps and flaws in national safety nets become more consequential. Because citizens of host (home) countries may be made to pay for mistakes made in the home (host) country, Basel's lead-regulator paradigm...

Persistent link: https://www.econbiz.de/10012466813

Pension Reform in Germany : The Impact on Retirement Decisions

Borsch-Supan, Axel - 2003

The financing problems beleaguering the public pension system have again shifted the spotlight onto the retirement age. This paper examines the impact of various reform options on the actual retirement choices of older workers. The paper focuses in particular on the long-term implications of the...

Persistent link: https://www.econbiz.de/10012468783

Household Saving in Germany : Results of the first SAVE study

Borsch-Supan, Axel - 2003

Germany is an interesting country to study saving among older households since nearly everyone - whether in the middle …

Persistent link: https://www.econbiz.de/10012468795

Social Security and Retirement in Germany

Borsch-Supan, Axel - 1997

behavior of older persons in Germany during the last 35 years and surveys the empirical literature on the effects of the social … security system on retirement in Germany. The paper shows that even after the 1992 reform the German system is actuarially …. Indeed, average retirement age is very low in West Germany (about age 59) and even lower in East Germany. This tendency …

Persistent link: https://www.econbiz.de/10012472661