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Population Aging and Economic Growth : From Demographic Dividend to Demographic Drag?
Kotschy, Rainer; Bloom, David E. - National Bureau of Economic Research - 2023
This paper examines the extent to which changes in working-age shares associated with population aging might slow economic growth in upcoming years. We first analyze the economic effects of changing working-age shares in a standard empirical growth model using country panel data from 1950-2015....
Persistent link: https://www.econbiz.de/10014337818
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Meritocracy across Countries
Bandiera, Oriana; Kotia, Ananya; Lindenlaub, Ilse; … - National Bureau of Economic Research - 2024
Are labor markets in higher-income countries more meritocratic, in the sense that worker-job matching is based on skills rather than idiosyncratic attributes unrelated to productivity? If so, why? And what are the aggregate consequences? Using internationally comparable data on worker skills and...
Persistent link: https://www.econbiz.de/10014528414
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Transition Dynamics in Vintage Capital Models : Explaining the Postwar Catch-Up of Germany and Japan
Gilchrist, Simon - 2004
We consider a neoclassical interpretation of Germany and Japan's rapid postwar growth that relies on a catch … and investment, we are able to capture many of the key empirical properties of Germany and Japan's postwar transitions …
Persistent link: https://www.econbiz.de/10012467958
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The Costs and Benefits of Fiscal Rules : Evidence from U.S. States
Alesina, Alberto - 1996
This paper shows that in American states balanced budget rules are effective in enforcing fiscal discipline but they have no costs in terms of increased output variability. More specifically, we show that tighter fiscal rules are associated with larger average surplus and lower cyclical...
Persistent link: https://www.econbiz.de/10012473231
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Tax-Efficient Asset Management : Evidence from Equity Mutual Funds
Sialm, Clemens - 2015
Investment taxes have a substantial impact on the performance of taxable mutual fund investors. Mutual funds can reduce the tax burdens of their shareholders by avoiding securities that are heavily taxed and by avoiding realizing capital gains that trigger higher tax burdens to the funds'...
Persistent link: https://www.econbiz.de/10012457607
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Fiscal Stance and the Real Exchange : Some Empirical Estimates
Clarida, Richard - 1999
fiscal deficits in Germany and the rest of Euroland. To the extent that the foreign exchange market anticipates that fiscal …
Persistent link: https://www.econbiz.de/10012471719
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Capital Flows, Real Estate, and Local Cycles : Evidence from German Cities, Banks, and Firms
Bednarek, Peter - 2020
We study how an aggregate bank flow shock impacts German cities' GDP growth depending on the state of their local real estate markets. Identification exploits a policy framework assigning refugees to cities on a quasi-random basis and variation in non-developable area for the construction of a...
Persistent link: https://www.econbiz.de/10012479343
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Labor Market Effects of Population Aging
Boersch-Supan, Axel - 2001
policy. It takes Germany as an example, but it equally applies to the other large economies in Continental Europe. The paper …
Persistent link: https://www.econbiz.de/10012470075
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Financial Systems, Economic Growth, and Globalization
Rousseau, Peter L. - 2001
formal quantitative analysis. We begin with studies of the Dutch Republic, England, the U.S., France, Germany and Japan that …
Persistent link: https://www.econbiz.de/10012470401
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From Socialist Showcase to Mezzogiorno? Lessons on the Role of Technical Change from East Germany's Post-World War II Growth Performance
Keller, Wolfgang - 1997
explaining the relative East Germany-West Germany performance during the post-World War II era. We argue that previous work was … prospects of catching up with West Germany during the post-reunification era. We show, first, that the rates of technical change … account for the fact that East Germany was not the socialist showcase for which it was frequently taken before German …
Persistent link: https://www.econbiz.de/10012472735