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Most industrialized countries today are facing historical demographic changes, paring increasing retirement with a declining labor force. We study the consequences of an increasing pensioner-worker ratio in a macroeconomic framework, which suggests a negative effect on total factor productivity....
Persistent link: https://www.econbiz.de/10014345627
Germany recent reforms that aim at raising retirement age and cutting benefit levels should be complemented by increases in …
Persistent link: https://www.econbiz.de/10013118355
Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10010264592
This research empirically establishes the hypothesis that the process of population aging in a society as a whole affects the attitudes of its members towards immigration. Hence, an aging social environment exerts an effect on the attitudes of individuals towards immigration after accounting for...
Persistent link: https://www.econbiz.de/10012889685
How does population aging affect economic growth and factor shares in times of increasingly automatable production processes? The present paper addresses this question in a new macroeconomic model of automation where competitive firms perform tasks to produce output. Tasks require labor and...
Persistent link: https://www.econbiz.de/10013218295
-enhancing public pension system. Calibrating the model to Germany, we find that a pension system that equalizes relative pension …
Persistent link: https://www.econbiz.de/10013219069
International migration flows largely reflect demographic patterns and economic opportunities. Migration flows increase in expected income and other pull factors in potential destinations, and in push factors in the origin, like high unemployment, low wages, and high population growth. Migration...
Persistent link: https://www.econbiz.de/10013224095
The subject of this paper is how the epistemic limitations of individuals and their biases in reasoning affect collective decisions and in particular the functioning of democracies. In fact, while the cognitive sciences have largely shown how the imperfections of human rationality shape...
Persistent link: https://www.econbiz.de/10014346248
This paper studies the design of an optimal non linear inheritance taxation when individuals differ in wage as well as in their risks of both mortality and old-age dependance. We assume that the government cannot distinguish between bequests motives, that is whether bequests result from...
Persistent link: https://www.econbiz.de/10013233139
This paper discusses the relationship between medical innovations and ageing from a health economics perspective and surveys empirical evidence on medical R&D incentives, R&D costs of pharmaceuticals, and the cost-effectiveness of health innovations. Particular focus is on the endogeneity of...
Persistent link: https://www.econbiz.de/10013322775