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Pensions and Fertility : Back to the Roots -- The Introduction of Bismarck's Pension Scheme and the European Fertility Decline
Fenge, Robert - 2014
Fertility has long been declining in industrialised countries and the existence of public pension systems is considered as one of the causes. This paper provides detailed evidence based on historical data on the mechanism by which a public pension system depresses fertility. Our theoretical...
Persistent link: https://www.econbiz.de/10013047746
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Pensions and Household Savings : Cross-Country Heterogeneity in Europe
d’Addio, Anna - 2020
We address the question of whether the heterogeneity in savings is partly due to differences in pension wealth across individuals and across countries, using a European harmonised wealth survey (HFCS) combined with estimates of pension wealth (OECD). First, we find significant displacement...
Persistent link: https://www.econbiz.de/10012842350
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Systemic Risk-Taking : Amplification Effects, Externalities, and Regulatory Responses
Korinek, Anton - 2011
This paper analyzes the efficiency of risk-taking decisions in an economy that is prone to systemic risk, captured by … because of pecuniary externalities that are triggered during financial amplification. The paper develops an externality … pricing kernel that quantifies the state-contingent magnitude of such externalities and provides welfare-theoretic foundations …
Persistent link: https://www.econbiz.de/10013124901
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Population Ageing and Public Pension Reforms in a Small Open Economy
Nickel, Christiane; Rother, Philipp; Theophilopoulou, … - 2021
This paper aims to address the issue of public pension reforms under demographic ageing that is likely to occur in Europe over the next 50 years. Three possible scenarios are analysed in a Blanchard OLG framework. These include: i) a decrease both in public pensions and the lump sum labour...
Persistent link: https://www.econbiz.de/10013316600
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Pensions and fertility: back to the roots - The introduction of Bismarck's pension scheme and the European fertility decline
Fenge, Robert; Scheubel, Beatrice - 2014
Fertility has long been declining in industrialised countries and the existence of public pension systems is considered as one of the causes. This paper provides detailed evidence based on historical data on the mechanism by which a public pension system depresses fertility. Our theoretical...
Persistent link: https://www.econbiz.de/10011605779
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A framework for assessing the costs of pension reform reversals
Baksa, Daniel; Munkacsi, Zsuzsa; Nerlich, Carolin - 2020
Several European countries are currently considering reversing parts of their pension reforms that were adopted previously to improve sustainability. In this paper we present a framework that allows us to quantify the macroeconomic and fiscal costs of such reversals. We thereby integrate the...
Persistent link: https://www.econbiz.de/10012422058
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A Framework for Assessing the Costs of Pension Reform Reversals
Baksa, Daniel - 2020
Several European countries are currently considering reversing parts of their pension reforms that were adopted previously to improve sustainability. In this paper we present a framework that allows us to quantify the macroeconomic and fiscal costs of such reversals. We thereby integrate the...
Persistent link: https://www.econbiz.de/10012836379
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Public pensions and growth
Lambrecht, Stéphane; Michel, Philippe; Vidal, Jean-Pierre - 2001
This paper investigates the relationship between the size of an unfunded public pension system and economic growth in an overlapping generation economy, in which altruistic parents finance the education of their children and leave bequests. Unlike the existing literature, we model...
Persistent link: https://www.econbiz.de/10011604136
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Pensions and household savings: Cross-country heterogeneity in Europe
D'Addio, Anna Cristina; Roger, Muriel; Savignac, … - 2020
We address the question of whether the heterogeneity in savings is partly due to differences in pension wealth across individuals and across countries, using a European harmonised wealth survey (HFCS) combined with estimates of pension wealth (OECD). First, we find significant displacement...
Persistent link: https://www.econbiz.de/10012422034
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Bubble Thy Neighbor : Portfolio Effects and Externalities from Capital Controls
Forbes, Kristin J. - 2012
externalities from capital controls on investor portfolios. The analysis is structured based on information from investor interviews … expectations about future policies - rather than the direct cost of the controls. This evidence of significant externalities from …
Persistent link: https://www.econbiz.de/10013103299