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Aging, the Great Moderation and Business-Cycle Volatility in a Life-Cycle Model
Heer, Burkhard; Rohrbacher, Stefan; Scharrer, Christian - 2014
According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to the conclusion that demographic change induces a drop in output volatility. We present an overlapping generations model that replicates the empirically observed pattern and...
Persistent link: https://www.econbiz.de/10010333382
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Age-Specific Entrepreneurship and PAYG Public Pensions in Germany
Heer, Burkhard; Trede, Mark - 2020
We present new empirical evidence on the distribution of earnings, income and wealth among entrepreneurs in Germany. We document that both earnings and income are more concentrated among entrepreneurs than among workers and describe a large-scale overlapping-generations model that can replicate...
Persistent link: https://www.econbiz.de/10012269509
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Demographic Change and Climate Change
Rauscher, Michael - 2019
The paper uses a continuous-time overlapping-generations model with endogenous growth and pollution accumulation over time to study the link between longevity and global warming. It is seen that increasing longevity accelerates climate change in a business-as-usual scenario without climate...
Persistent link: https://www.econbiz.de/10012866368
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Population Aging and Migration
Poutvaara, Panu - 2021
International migration flows largely reflect demographic patterns and economic opportunities. Migration flows increase … unemployment, low wages, and high population growth. Migration flows decrease in the geographic and cultural distance between the … potential origin and destination, and in other migration costs. To the extent that migrants are employed, immigration can …
Persistent link: https://www.econbiz.de/10013224095
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Human capital accumulation and the macroeconomy in an ageing society
Heijdra, Ben J.; Reijnders, Laurie S. M. - 2012
How do population ageing shocks affect the long-run macroeconomic performance of an economy? To answer this question we build a general equilibrium overlapping generations model of a closed economy featuring endogenous factor prices. Finitely-lived individuals are endowed with perfect foresight...
Persistent link: https://www.econbiz.de/10010291543
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One Pillar Crumbling, the Others too Short: Old-Age Provision in Germany
Werding, Martin - 2016
Public pay-as-you-go pensions still form the dominant pillar of old-age provision in Germany. This is in marked contrast to the situation in Anglo-Saxon countries. It has advantages if labour markets are strong, e.g., following a quick recovery from the Great Recession. It has disadvantages, as...
Persistent link: https://www.econbiz.de/10011431337
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The Forecasting Power of the ifo Business Survey
Lehmann, Robert - 2020
The ifo Institute is Germany’s largest business survey provider, with the ifo Business Climate Germany as one of the most important leading indicators for gross domestic product. However, the ifo Business Survey is not solely limited to the Business Climate and also delivers a multitude of...
Persistent link: https://www.econbiz.de/10012227631
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The Forecasting Power of the Ifo Business Survey
Lehmann, Robert - 2020
The ifo Institute is Germany's largest business survey provider, with the ifo Business Climate Germany as one of the most important leading indicators for gross domestic product. However, the ifo Business Survey is not solely limited to the Business Climate and also delivers a multitude of...
Persistent link: https://www.econbiz.de/10012833732
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Retirement, pensions, and ageing
Heijdra, Ben J.; Romp, Ward E. - 2007
We study the effects of demographic shocks and changes in the pension system on the macroeconomic performance of an advanced small open economy. An overlapping-generations model is constructed which includes a realistic description of the mortality process. Individual agents choose their optimal...
Persistent link: https://www.econbiz.de/10010264112
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Should pensions be progressive? Yes, at least in Germany!
Fehr, Hans; Kallweit, Manuel; Kindermann, Fabian - 2011
Recent reforms that aim at reducing the upcoming burdens of population ageing might seriously harm low income individuals. An increase in old-age poverty and disability will be the result. Under this prospect, the present paper quantitatively characterizes the optimal progressivity of unfunded...
Persistent link: https://www.econbiz.de/10010278895