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Estimated US manufacturing production capital and technology based on an estimated dynamic economic model

Chen, Baoline; Zadrozny, Peter A. - 2005

Production capital and technology, fundamental to understanding output and productivity growth, are unobserved except at disaggregated levels and must be estimated prior to being used in empirical analysis. We develop and apply a new estimation method, based on advances in economics, statistics,...

Persistent link: https://www.econbiz.de/10010261321

Population, pensions, and endogenous economic growth

Heer, Burkhard; Irmen, Andreas - 2008

We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...

Persistent link: https://www.econbiz.de/10010264503

Other-Regarding Preferences and Redistributive Politics

Fehr, Ernst; Epper, Thomas; Senn, Julien - 2022

Increasing inequality and associated egalitarian sentiments have again put redistribution on the political agenda. Other-regarding preferences may also affect support for redistribution, but knowledge about their distribution in the broader population and how they are associated with political...

Persistent link: https://www.econbiz.de/10013177579

Concentration among the rich

Atkinson, Anthony B. - 2006

The aim of this paper is to examine the concentration of wealth among the group of top wealth holders, defined as those with wealth in excess of a high cut off. The paper begins by considering the definition of this cut off, analogous to the definition of a poverty line at the other end of the...

Persistent link: https://www.econbiz.de/10010284753

Business cycle dynamics of a new Keynesian overlapping generations model with progressive income taxation

Heer, Burkhard; Maußner, Alfred - 2006

In our dynamic optimizing sticky price model, agents are heterogeneous with regard to their age and their productivity. We find that the business cycle dynamics in the OLG model in response to both a technology shock and a monetary shock are similar, but not completely identical to those found...

Persistent link: https://www.econbiz.de/10010261430

Exposure to the COVID-19 Stock Market Crash and its Effect on Household Expectations

Hanspal, Tobin - 2020

We survey a representative sample of US households to study how exposure to the COVID-19 stock market crash affects expectations and planned behavior. Wealth shocks are associated with upward adjustments of expectations about retirement age, desired working hours, and household debt, but have...

Persistent link: https://www.econbiz.de/10012835653

Shocks, Frictions, and Inequality in US Business Cycles

Bayer, Christian - 2020

How much does inequality matter for the business cycle and vice versa? Using a Bayesian likelihood approach, we estimate a heterogeneous-agent New-Keynesian (HANK) model with incomplete markets and portfolio choice between liquid and illiquid assets. The model enlarges the set of shocks and...

Persistent link: https://www.econbiz.de/10012841741

Relative Inequality and Poverty in Germany and the United States Using Alternative Equivalence Scales

Burkhauser, Richard V.; Smeeding, Timothy M.; Merz, Joachim - Volkswirtschaftliche Fakultät, … - 1994

German and United States data from the Luxembourg Income Study are used to compare the relative economic well-being of Germans and Americans in the 1980s. In our analysis we use both official equivalence scales and consumption-based country-specific equivalence scales developed for Germany and...

Persistent link: https://www.econbiz.de/10005079301

Equivalence Scales Based on Revealed Preference Consumption Expenditure Microdata - The Case of West Germany

Merz, Joachim; Faik, Jürgen - Volkswirtschaftliche Fakultät, … - 1994

Equivalence scales are a prerequisite for any economic well-being comparison with measures on income distribution, inequality and poverty. This paper provides equivalence scales based on revealed preference consumption microdata for West Germany 1983. It is a part of a joint US and German...

Persistent link: https://www.econbiz.de/10005079335

Modeling the evolution of age-dependent Gini coefficient for personal incomes in the U.S. between 1967 and 2005

Kitov, Ivan - Volkswirtschaftliche Fakultät, … - 2008

very low (<4 %) for ages over 45 years. It is demonstrated that the evolution of Gini coefficient, for the years with a … groups for the period between 1967 and 2005. This allows exact prediction of Gini coefficient and other measures of … groups, the model predicts slightly decreasing Gini coefficients between 1977 and 2005. The overall G is approximately …

Persistent link: https://www.econbiz.de/10005836734