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Sharing Demographic Risk - Who is Afraid of the Baby Bust?
Ludwig, Alexander; Reiter, Michael - 2021
We model the optimal reaction of a public PAYG pension system to demographic shocks. We compare the ex-ante first best and second best solution of a Ramsey planner with full commitment to the outcome under simple third best rules that mimic the pension systems observed in the real world. The...
Persistent link: https://www.econbiz.de/10013316485
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Sharing demographic risk : who is afraid of the baby bust
Ludwig, Alexander - 2008
Persistent link: https://www.econbiz.de/10013442692
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Voting on social security when labor supply is endogenous
Breyer, Friedrich - 1991
Persistent link: https://www.econbiz.de/10013409000
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Aging, pension reform, and capital flows : a multi-country simulation model
Börsch-Supan, Axel; Ludwig, Alexander; Winter, Joachim - 2004
Persistent link: https://www.econbiz.de/10002766502
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Aging and international capital flows
Börsch-Supan, Axel; Ludwig, Alexander; Winter, Joachim - 2002
Persistent link: https://www.econbiz.de/10001674486
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Higher-order income risk over the business cycle
Busch, Christopher; Ludwig, Alexander - 2020
We extend the canonical income process with persistent and transitory risk to shock distributions with left-skewness and excess kurtosis, to which we refer as higher-order risk. We estimate our extended income process by GMM for household data from the United States. We find countercyclical...
Persistent link: https://www.econbiz.de/10012215285
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Local business taxation and competition for capital : the choice of the tax rate
Büttner, Thiess - 1998
in West Germany's districts. The results indicate that collection rates are set in response to the fiscal decisions of …
Persistent link: https://www.econbiz.de/10011621715
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Local business taxation and competition for capital: the choice of the tax rate
Büttner, Thiess - 1998
Persistent link: https://www.econbiz.de/10013428182
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Regional stabilization by fiscal equalization? : Theoretical considerations and empirical evidence from Germany
Büttner, Thiess - 1999
actually favors stabilization. In an empirical analysis for Germany, the paper adds support for the finding of significant … regional stabilization by fiscal flows. The results indicate that about 17 % of GDP variation across West Germany's states has … been removed by fiscal flows during the last two decades. Thus, in Germany where the fiscal federalism is criticised for …
Persistent link: https://www.econbiz.de/10013428245