Narrow search
Showing 1 - 10 of 129
Cover Image
Intergenerational Risk Sharing in the Spirit of Arrow, Debreu, and Rawls, with Applications to Social Security Design
Ball, Laurence; Mankiw, N. Gregory - 2021
This paper examines the optimal allocation of risk in an overlapping-generations economy. It compares the allocation of risk the economy reaches naturally to the allocation that would be reached if generations behind a Rawlsian 'veil of ignorance' could share risk with one another through...
Persistent link: https://www.econbiz.de/10013248396
Cover Image
Risk Sharing in Defined-Contribution Funded Pension Systems
Beetsma, Roel M. W. J. - 2011
This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate welfare, as measured by equivalent variations. While...
Persistent link: https://www.econbiz.de/10013118167
Cover Image
Financial Markets, the Real Economy, and Self-Fulfilling Uncertainties
Benhabib, Jess - 2018
informational interdependence between financial markets and the real economy, linking uncertainty to information production and … joint information productions determine both the allocative efficiency in the real sector and the market efficiency in the … financial sector. The mutual learning creates a strategic complementarity between information production in the financial sector …
Persistent link: https://www.econbiz.de/10012911472
Cover Image
Ageing, Government Budgets, Retirement, and Growth
Gonzalez-Eiras, Martín - 2011
We analyze the short and long run effects of demographic ageing - increased longevity and reduced fertility - on per-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital deepening, and indirect effects, working through...
Persistent link: https://www.econbiz.de/10013129861
Cover Image
The Welfare Gains of Age Related Optimal Income Taxation
Bastani, Spencer - 2010
Using a calibrated overlapping generations model we quantify the welfare gains of an age dependent income tax. Agents face uncertainty regarding future abilities and can by saving transfer consumption across periods. The welfare gain of switching from an age-independent to an age-dependent...
Persistent link: https://www.econbiz.de/10013136607
Cover Image
Fertility, Female Labor Supply, and Family Policy
Fehr, Hans - 2011
The present paper develops a general equilibrium model with overlapping generations and endogenous fertility in order to analyze the interaction between public policy and household labor supply and fertility decisions. The model's benchmark equilibrium reflects the current family policy...
Persistent link: https://www.econbiz.de/10013124970
Cover Image
Taxation of Intergenerational Transfers and Wealth
Kopczuk, Wojciech - 2012
In this chapter, I review empirical and theoretical literature on taxation of intergenerational transfers (estates, bequests, inheritances, inter vivos gifts) and wealth. The main message may be summarized as follows. Empirical evidence on bequest motivations and responses to estate taxation is...
Persistent link: https://www.econbiz.de/10013097266
Cover Image
Cycles of Distrust : An Economic Model
Acemoglu, Daron - 2012
play coordination games under incomplete information about whether the other side consists of "extremists" who will never … there is limited information about the history of past actions, so that an agent is unable to ascertain exactly when and how …
Persistent link: https://www.econbiz.de/10013103053
Cover Image
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/10013084209
Cover Image
Aging and Pension Reform : Extending the Retirement Age and Human Capital Formation
Vogel, Edgar - 2013
Projected demographic changes in industrialized and developing countries vary in extent and timing but will reduce the share of the population in working age everywhere. Conventional wisdom suggests that this will increase capital intensity with falling rates of return to capital and increasing...
Persistent link: https://www.econbiz.de/10013085913