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The impact of labor market reforms on capital flows, wages and unemployment
Beissinger, Thomas - 2001
The paper contributes to the globalization debate by scrutinizing the international spillover effects which are provoked if a single country reduces the generosity of the unemployment compensation system or weakens labor union power. For this purpose a two-country model with imperfect...
Persistent link: https://www.econbiz.de/10011404156
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Government debt as insurance against macroeconomic risk
Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2001
Is there a role for debt beyond curing overaccumulation of capital? Does dynamic efficiency and the infeasibility of debt Ponzi schemes eliminate any Pareto-improving role for a government in a competitive economy with complete markets? Is there an optimal maturity structure of public debt?...
Persistent link: https://www.econbiz.de/10011405711
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Samuelson's contributions to population theory and overlapping generations in economics
Lee, Ronald Demos - 2019
Paul Samuelson made a series of important contributions to population theory for humans and other species, evolutionary … theory, and the theory of age structured life cycles in economic equilibrium and growth. The work is highly abstract but much …
Persistent link: https://www.econbiz.de/10012027303
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Pension policies in a model with endogenous fertility
Cipriani, Giam Pietro; Pascucci, Francesco - 2018
We set up an overlapping generations model with endogenous fertility to study pensions policies in an ageing economy. We show that an increasing life expectancy may not be detrimental for the economy or the pension system itself. On the other hand, conventional policy measures, such as...
Persistent link: https://www.econbiz.de/10011855784
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Asymmetric labor market institutions in the EMU and the volatility of inflation and unemployment differentials
Abbritti, Mirko; Müller, Andreas - 2012
and real wage rigidities. In our analysis, we focus on the differentials in inflation and unemployment between countries … inflation and unemployment differentials. Second, we find that asymmetries in labor market structures tend to increase the … volatility of both inflation and unemployment differentials. Finally, we show that it is important to take into account the …
Persistent link: https://www.econbiz.de/10009536516
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Dynamic efficiency and pareto optimality in a stochastic OLG model with production and social security
Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2000
We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimality. Our characterization also subsumes equilibria with a PAYG social security system. In a competitive equilibrium...
Persistent link: https://www.econbiz.de/10011339089
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Population ageing and PAYG pensions in the OLG model
Cipriani, Giam Pietro - 2013
This paper shows the effects on a pay-as-you-go pension system of the demographic change in the standard overlapping generations model. Firstly, we consider a setting with exogenous fertility and then a model with endogenous fertility. In both cases, population ageing due to increased longevity...
Persistent link: https://www.econbiz.de/10009695984
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Aging, retirement and pay-as-you-go pensions
Cipriani, Giam Pietro - 2016
In this paper we consider the effects of population aging on a pay-as-you-go financed defined contributions pension scheme. We show that when retirement decisions are endogenous, aging increases the retirement age and the steady state level of capital. The effect on pension payouts is in general...
Persistent link: https://www.econbiz.de/10011480809
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Efficiency versus insurance: capital income taxation and privatizing social security
Makarski, Krzysztof; Tyrowicz, Joanna; Komada, Oliwia - 2021
We study the interactions between capital income tax and social security privatization in the context of rising longevity. In an economy with idiosyncratic income shocks, redistributive defined benefit social security provides some insurance against income uncertainty. This insurance comes at...
Persistent link: https://www.econbiz.de/10012653219
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The political (in)stability of funded social security
Beetsma, Roel; Komada, Oliwia; Makarski, Krzysztof; … - 2021
We analyze the political stability of funded social security. Using a stylized theoretical framework we study the mechanisms behind governments capturing social security assets in order to lower current taxes. The results and the driving mechanisms carry over to a fully-fledged and carefully...
Persistent link: https://www.econbiz.de/10012648353