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Economic retirement age and lifelong learning : a theoretical model with heterogeneous labor, biased technical change and international sourcing

Gries, Thomas; Jungblut, Stefan; Krieger, Tim; Meyer, … - 2016

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/10011580569

How should large and small countries be represented in a currency union?

Berger, Helge (contributor); Müller, Till (contributor) - 2004

The likely extension of the euro area has triggered a debate on the organization of the ECB, in particular on the apparent mismatch between relative economic size and voting rights in the Council. We present a simple model of optimal representation in a federal central bank addressing this...

Persistent link: https://www.econbiz.de/10002521678

The inter-institutional distribution of power in EU codecision

Napel, Stefan (contributor); Widgrén, Mika (contributor) - 2004

This paper analyzes the a priori influence of the European Parliament (EP) and the Council of Ministers (CM) on legislation of the European Union adopted under its codecision procedure. In contrast to studies which use conventional power indices, both institutions are assumed to act...

Persistent link: https://www.econbiz.de/10002521708

EU enlargement, migration and the new constitution

Sinn, Hans-Werner (contributor) - 2004

The paper deals with the effects of migration resulting from EU Eastern enlargement on the welfare states of Western … is a rational reaction of the state. The proposed new EU constitution which contains far-reaching rules for a European …

Persistent link: https://www.econbiz.de/10002523041

Improving the SGP : taxes and delegation rather than fines

Lindbeck, Assar (contributor); Niepelt, Dirk (contributor) - 2005

We analyze motivations for, and possible alternatives to, the Stability and Growth Pact (SGP). With regard to the former, we identify domestic policy failures and various cross-country spillover effects; with regard to the latter, we contrast an economic-theory" perspective on optimal corrective...

Persistent link: https://www.econbiz.de/10002576733

The impact of FX central bank intervention in a noise trading framework

Beine, Michel (contributor); De Grauwe, Paul (contributor); … - 2005

In this paper we investigate the effects of central bank interventions (CBI) in a noise trading model with chartists and fundamentalists. We first estimate a model in which chartists extrapolate past returns and fundamentalists forecast a mean reverting dynamics of the exchange rate towards a...

Persistent link: https://www.econbiz.de/10003113337

Pricing carbon

Drupp, Moritz A.; Nesje, Frikk; Schmidt, Robert C. - 2022

We study the variation of global and unilateral carbon price recommendations and their determinants. To this end, we provide survey evidence on carbon pricing from more than 400 experts across almost 40 countries. We quantify the extent of (dis-)agreement and reveal that a majority of experts...

Persistent link: https://www.econbiz.de/10012888461

Shadow rates as a measure of the monetary policy stance : some international evidence

Anderl, Christina; Caporale, Guglielmo Maria - 2022

This paper examines the usefulness of shadow rates to measure the monetary policy stance by comparing them to the official policy rates and those implied by three types of Taylor rules in both inflation targeting countries (the UK, Canada, Australia and New Zealand) and others that have only...

Persistent link: https://www.econbiz.de/10013285605

EU banks rating assignments : is there heterogeneity between new and old member countries?

Caporale, Guglielmo Maria; Matousek, Roman; Stewart, Chris - 2010

We model EU countries' bank ratings using financial variables and allowing for intercept and slope heterogeneity. Our … aim is to assess whether "old" and "new" EU countries are rated differently and to determine whether "new" ones are … intercepts) are a crucial determinant of ratings. Whilst "new" EU countries typically have lower ratings than "old" ones, after …

Persistent link: https://www.econbiz.de/10003974520

Fiscal and migration competition

Razin, Asaf; Tsadḳah, Efrayim - 2010

both the host and the source countries. It models the host country stylistically as a core EU welfare state, with tax … financed benefits and migration policies, and the migration source country as an accession country (following the EU … voter.The paper models the host country stylistically as a member of the core of an economic union (i.e., a core EU welfare …

Persistent link: https://www.econbiz.de/10003974528