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Trade Linkages and Output-Multiplier Effects : A Structural VAR Approach with a Focus on Asia

Abeysinghe, Tilak - 2001

This paper develops a structural VAR model to measure how a shock to one country can affect the GDP of other countries. It uses trade linkages to estimate the multiplier effects of a shock as it is transmitted through other countries' output fluctuations. The paper introduces a new specification...

Persistent link: https://www.econbiz.de/10012470116

Has Social Security Influenced Family Formation and Fertility in OECD Countries? An Economic and Econometric Analysis

Ehrlich, Isaac - 2007

There is growing concern about a decline in the total fertility rate worldwide, but nowhere is the concern greater than in OECD countries, some of which already face the prospect of population decline as well. While the trend is largely the result of structural economic and social changes, our...

Persistent link: https://www.econbiz.de/10012465787

On the Consequences of Demographic Change for Rates of Returns to Capital, and the Distribution of Wealth and Welfare

Krueger, Dirk - 2006

This paper employs a multi-country large scale Overlapping Generations model with uninsurable labor productivity and mortality risk to quantify the impact of the demographic transition towards an older population in industrialized countries on world-wide rates of return, international capital...

Persistent link: https://www.econbiz.de/10012466211

Aging, Pension Reform, and Capital Flows : A Multi-Country Simulation Model

Boersch-Supan, Axel - 2005

In order to quantify these effects, we develop a computational general equilibrium model. We feed this multi-country overlapping generations model with detailed long-term demographic projections for seven world regions. Our simulations indicate that capital flows from fast-aging regions to the...

Persistent link: https://www.econbiz.de/10012466821

Bond Market Clienteles, the Yield Curve, and the Optimal Maturity Structure of Government Debt

Guibaud, Stéphane - 2013

We propose a clientele-based model of the yield curve and optimal maturity structure of government debt. Clienteles are generations of agents at different lifecycle stages in an overlapping-generations economy. An optimal maturity structure exists in the absence of distortionary taxes and...

Persistent link: https://www.econbiz.de/10012459739

Generational Accounting and Immigration in the United States

Auerbach, Alan J. - 1999

In recent years, the renewed strength of immigration to the United States has sparked a debate about the economic … effects of immigration. A central issue in this debate has been the fiscal impact of immigrants. Most research in this area … fiscal responsibility' is followed, whether there is a fiscal gain from immigration depends on the extent to which government …

Persistent link: https://www.econbiz.de/10012471759

Public Finance and Individual Preferences over Globalization Strategies

Hanson, Gordon H. - 2005

In the absence of distortionary tax and spending policies, freer immigration and trade for a country would often be …, can do neither of these. This suggests quite different political coalitions may organize around trade and immigration. In … strategies and also fiscal jurisdictions. We then apply this framework to the case of individual immigration and trade …

Persistent link: https://www.econbiz.de/10012467659

Social Security and Demographic Uncertainty : The Risk Sharing Properties of Alternative Policies

Bohn, Henning - 1999

As the U.S. population ages, the growing retiree-worker ratio increases the burden of public retirement systems. Is it efficient to maintain a defined benefit social security system? Should PAYGO benefits be reduced and private retirement savings be encouraged? The paper examines these questions...

Persistent link: https://www.econbiz.de/10012471770

Unskilled Migration : A Burden or a Boon for the Welfare State

Razin, Assaf - 1999

In a static setup, migration of unskilled labor may be resisted by the entire native-born population because, being relatively low earners, migrants are net beneficiaries of the fiscal system. However, the paper shows that with a pay-as-you-go pension, an important pillar of the welfare state,...

Persistent link: https://www.econbiz.de/10012471787

Junior is Rich : Bequests as Consumption

Constantinides, George M. - 2005

We explore the consequences for asset pricing of admitting a bequest motive into an otherwise standard overlapping generations model where agents trade equity and perpetual debt securities. Prices of securities are seen to be approximately 50% higher in an economy with bequests as compared to an...

Persistent link: https://www.econbiz.de/10012467563

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