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Economic Retirement Age and Lifelong Learning - A Theoretical Model with Heterogeneous Labor, Biased Technical Change and International Sourcing
Gries, Thomas - 2017
The employability of an aging population in a world of continuous and biased technical change is top of the political agenda. Due to endogenous human capital depreciation the effective retirement age is often below statutory retirement age resulting in permanent non-employability of older...
Persistent link: https://www.econbiz.de/10012964188
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The Positive Border Effect of EU Integration
Brakman, Steven - 2011
, regions, or countries. The enlargement of the EU or the introduction of the euro, however, can be looked upon as integration … that go along with EU integration along the border. Both at the urban and regional level, we find a beneficial influence of … the EU integration process as measured by the growth in population share along the integration borders, leading to an …
Persistent link: https://www.econbiz.de/10013130414
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The Impact of Fiscal Rules on Public Finances : Theory and Empirical Evidence for the Euro Area
Marneffe, Wim - 2011
This paper presents a review of the most significant fiscal rules policymakers can choose from. The insights from this review are then applied to the current budgetary situation of the European Union. In the European Union, the supranational Stability and Growth Pact (SGP) should provide the...
Persistent link: https://www.econbiz.de/10013131350
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Channel Systems : Why is There a Positive Spread?
Berentsen, Aleksander - 2010
An increasing number of central banks implement monetary policy via two standing facilities: a lending facility and a deposit facility. In this paper we show that it is socially optimal to implement a non-zero interest rate spread. We prove this result in a dynamic general equilibrium model...
Persistent link: https://www.econbiz.de/10013135781
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Partial Harmonization of Corporate Taxes in an Asymmetric Repeated Game Setting
Itaya, Jun-ichi - 2010
This paper investigates the conditions under which partial harmonization for capital taxation is sustained in a repeated interactions model of tax competition when there are three heterogenous countries with respect to their capital endowments. We show that regardless of the structure of the...
Persistent link: https://www.econbiz.de/10013136007
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Financial Frictions and Inflation Differentials in a Monetary Union
Hristov, Nikolay - 2010
This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation differentials can be explained by cross-country differences concerning the characteristics of financial markets. Our results suggest that empirically plausible degrees of...
Persistent link: https://www.econbiz.de/10013136243
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The Greek Crisis : Causes and Consequences
Garcia Pascual, Antonio I. - 2011
loss of competitiveness, and the failure of the first EU-IMF programme. We also present our views on the likely debt …
Persistent link: https://www.econbiz.de/10013117780
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Fair and Efficient Taxation Under Partial Control : Theory and Evidence
Ooghe, Erwin - 2011
characteristics in 26 European countries (using EU-SILC data) and the US (using CPS data) and find a robust tendency in all countries …
Persistent link: https://www.econbiz.de/10013122256
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Target Losses in Case of a Euro Break-Up
Sinn, Hans-Werner - 2012
Evaluation of the financial costs of a Eurozone breakup depends critically on the interpretation of TARGET balances. While it has been argued that TARGET claims in the Eurozone can be written off without incurring any losses on the claimants as the value of fiat money is independent of the...
Persistent link: https://www.econbiz.de/10013098046
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Smaller Public Sectors in the Euro Area : Aggregate and Distributional Implications
Economides, George - 2012
In this paper, we study the aggregate and distributional implications of a smaller public sector in the euro area. By a smaller public sector, we mean a reduction in public debt and/or cuts in public spending, when such changes in fiscal policy are accommodated by adjustment in various taxes....
Persistent link: https://www.econbiz.de/10013098961