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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

EMU : Ready, or Not?

Obstfeld, Maurice - 1999

In this paper I focus on two specific hazard areas in the transition from Stage Two to Stage Three of European economic and monetary union (EMU), as well as on some key problems of Stage Three that EMU's monetary and fiscal structures appear ill-prepared to handle. The transitional hazards are...

Persistent link: https://www.econbiz.de/10012471509

Regional Nonadjustment and Fiscal Policy : Lessons for EMU

Obstfeld, Maurice - 1999

pattern of the United States. In this paper we compare the US with Germany, Italy, the United Kingdom, and also with Canada …

Persistent link: https://www.econbiz.de/10012471641

A Strategy for Launching the Euro

Obstfeld, Maurice - 1999

This paper analyzes the constraints European Union law places on the 1 January 1999" choices of irrevocably fixed conversion rates between the Euro and the currencies of EMU" member states. Current EU legislation, notably the Maastricht treaty bilateral currency conversion factors implied by the...

Persistent link: https://www.econbiz.de/10012471816

The Euro and The Geography of International Debt Flows

Hale, Galina - 2014

Greater financial integration between core and peripheral EMU members not only had an effect on both sets of countries but also spilled over beyond the euro area. Lower interest rates allowed peripheral countries to run bigger deficits, which inflated their economies by allowing credit booms....

Persistent link: https://www.econbiz.de/10012458631

Exchange Rates, Inflation and the Sterilization Problem : Germany, 1975-1981

Obstfeld, Maurice - 1982

When the goals of internal and external macroeconomic equilibrium are in conflict, sterilized intervention in the foreign exchange market may provide an independent policy instrument through which the central bank can resolve its dilemma in the short run. This paper is concerned with the West...

Persistent link: https://www.econbiz.de/10012478142

Sterilization and Offsetting Capital Movements : Evidence from West Germany, 1960-1970

Obstfeld, Maurice - 1980

The purpose of this paper is two fold. First, to estimate, using structural methods, the extent to which capital flows undermined West German monetary policy during the Bretton Woods years 1960 to 1970 and second, to show that earlier reduced form estimates of the capital-account offset...

Persistent link: https://www.econbiz.de/10012478642

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