Showing 1 - 10 of 25
The effects of three reforms of the Belgian old-age pension system were examined on retirement behaviour, government … retirement, and in particularly penalize early retirement of the rich more than the poor, are not only the ones that enhance the … relative poverty among the old-age retired. On the contrary, reforms that compensate retirement beyond the age of eligibility …
Persistent link: https://www.econbiz.de/10004984738
In this paper, we examine the consequences of delaying retirement in an overlapping generations model with domestic … production and parental transfers in the form of grandchild care. We show that a change in age at retirement influences the … retirement may increase time devoted to grandchild care transfers, which allows the young to work more on the labour market. We …
Persistent link: https://www.econbiz.de/10010540102
with overlapping generations, endogenous growth and endogenous retirement age. We calibrate this model on Belgian data. We … retirement age recorded over the last fifty years. In addition, we find that the sharp increase in government expenditures … aging by generating an endogenous increase of the retirement age. …
Persistent link: https://www.econbiz.de/10004985271
We review Bayesian inference for dynamic latent variable models using the data augmentation principle. We detail the difficulties of stimulating dynamic latent variables in a Gibbs sampler. We propose an alternative specification of the dynamic disequilibrium model which leads to a simple...
Persistent link: https://www.econbiz.de/10004984869
The aim of this paper is to analyse how banking firms set their capital ratios, that is, the rate of equity capital over assets. In order to study this issue, two theoretical models are developed. Both models deal with the existence of an optimal capital ratio; the first one for firms not...
Persistent link: https://www.econbiz.de/10004985251
In this paper we examine the effect of innovation on job creation and job destruction in Spanish manufacturing. Our empirical analysis is based on firm-level longitudinal data from which we have information on employment and innovation activity. The estimation approach consists of a two-step...
Persistent link: https://www.econbiz.de/10004985483
This paper aims at investigating the determinants of self- employment within a structural model of discrete choice under uncertainty. The basic idea of our approach centres around Knight's (1921) famous view of entrepreneurs receiving risk-adjusted income that has to exceed the income of...
Persistent link: https://www.econbiz.de/10008505500
We jointly model fertility and participation decisions of women who live in couple using a dynamic model. In this paper we analyze the labour supply and the fertility decisions of married or cohabiting women in France, Spain, Germany, UK and Denmark. We estimate, for the period going from 1994...
Persistent link: https://www.econbiz.de/10008544131
One important aspect of financial market is that there might be some traders that intentionally mislead other market participants by creating illusions in order to obtain a profit. We call this new concept illusionary finance. We present an analysis of how illusions can be created and...
Persistent link: https://www.econbiz.de/10004984704
In order to capture observed asymmetric dependence in international financial returns, we construct a multivariate regime-switching model of copula. We model dependence with one Gaussian and one canonical vine copula regime. Canonical vines are construted from bivariate conditional copulas and...
Persistent link: https://www.econbiz.de/10004984711