Similar Search Results

Heijdra, Ben J.; Romp, Ward E. - 2021

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/10013317087

Demographic Structure and Macroeconomic Trends

Aksoy, Yunus; Basso, Henrique S.; Smith, Ron; Grasl, Tobias - 2021

and growth, whose simulations match our empirical findings. The current trend of population aging and reduced fertility is …

Persistent link: https://www.econbiz.de/10013315503

Ageing and Productivity Growth : Are There Macro-Level Cohort Effects of Human Capital?

Werding, Martin - 2021

Slower growth of the labour force and an increase in old-age dependency will reduce the growth of aggregate output and output per capita in many developed countries. However, a major question is whether there is any systematic link between demographics and the productivity of those who will...

Persistent link: https://www.econbiz.de/10013316605

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

Is Norway's Bird-in-Hand Stabilization Fund Prudent Enough? Fiscal Reactions to Hydrocarbon Windfalls and Graying Populations

Harding, Torfinn - 2014

We estimate fiscal reaction functions for non-hydrocarbon tax and public spending shares of national income and for debt management strategies adopted by Norway and compare these with rules that would prevail under the permanent income hypothesis and bird-in-hand rule. We conclude that the...

Persistent link: https://www.econbiz.de/10013070656

Longevity Risk and Taxation of Public Pensions

Lassila, Jukka - 2016

We study transitions from EET tax regime to TEE regime in a defined-benefit pension scheme with a numerical overlapping generations model, using stochastic mortality projections as inputs. In a traditional pension scheme with no automatic longevity rules, such as a link between life expectancy...

Persistent link: https://www.econbiz.de/10013001164

The Scandinavian Model - Prospects and Challenges

Andersen, Torben M. - 2007

Scandinavian countries are often portrayed in policy debates as model examples having shown how to square concerns for efficiency and equity. The core principle of the Scandinavian welfare model is an individual entitlement to public sector provisions combined with collective financing via...

Persistent link: https://www.econbiz.de/10012777727

Ageing and Growth in the Small Open Economy

Heijdra, Ben J. - 2006

We construct an overlapping generations model for the small open economy which incorporates a realistic description of the mortality process. Agents engage in educational activities at the start of life and thus create human capital to be used later on in life for production purposes. Depending...

Persistent link: https://www.econbiz.de/10012779815

Ageing Municipalities, Gerontocracy and Fiscal Competition

Montén, Anna - 2008

We develop a simple model of fiscal competition among ageing municipalities. When ageing advances, gerontocracies and social planners gradually substitute publicly provided goods aimed at the mobile young population for publicly provided goods for the elderly. This substitution process does not...

Persistent link: https://www.econbiz.de/10012768349

Aging, Social Security Design, and Capital Accumulation

Dedry, Antoine - 2015

This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social … shows that the type of aging, i.e. declining fertility or increasing longevity, and the type of unfunded social security … provides a refinement to common policy recommendations that favor eliminating mandatory early retirement regulations in aging …

Persistent link: https://www.econbiz.de/10013009863