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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 … heterogeneity in the mean savings offset depending on age, risk attitudes and country. Third, the offset follows different patterns …
Persistent link: https://www.econbiz.de/10012842350
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Financial Literacy and Savings Account Returns
Deuflhard, Florian - 2015
Savings accounts are owned by most households, but little is known about the performance of households' investments. We … create a unique dataset by matching information on individual savings accounts from the DNB Household Survey with market data …
Persistent link: https://www.econbiz.de/10013014617
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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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Model misspecification, the equilibrium natural interest rate and the equity premium
Tristani, Oreste - 2007
This paper analyses the determinants of the natural rate of interest in a non-linear model where agents are uncertain over both future technology growth and the future course of monetary policy. I show that the real natural rate can be affected by sizable uncertainty premia, including premia...
Persistent link: https://www.econbiz.de/10011604854
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Check in the Mail or More in the Paycheck : Does the Effectiveness of Fiscal Stimulus Depend on How it is Delivered?
Sahm, Claudia - 2011
Recent fiscal policies have aimed to stimulate household spending. In 2008, most households received one-time economic stimulus payments. In 2009, most working households received the Making Work Pay tax credit in the form of reduced withholding; other households, mainly retirees, received...
Persistent link: https://www.econbiz.de/10013130153
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Micro and Macro Analysis on Household Income, Wealth and Saving in the Euro Area
Honkkila, Juha - 2013
The report on the Measurement of Economic Performance and Social Progress by Stiglitz, Sen and Fitoussi concludes that in the measurement of household welfare all material components should be covered, i.e. consumption, income and wealth, from both the micro as well as the macro perspective....
Persistent link: https://www.econbiz.de/10013072608
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The Importance of Being Mature : the Effect of Demographic Maturation on Global Per-Capita Gdp
Gomez, Rafael - 2007
Given that savings behaviour and worker productivity have strong life-cycle components and given that demographic …
Persistent link: https://www.econbiz.de/10012778366
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Dissecting Saving Dynamics : Measuring Wealth, Precautionary and Credit Effects
Carroll, Christopher D. - 2019
We argue that the U.S. personal saving rate's long stability (from the 1960s through the early 1980s), subsequent steady decline (1980s-2007), and recent substantial increase (2008-2011) can all be interpreted using a parsimonious 'buffer stock' model of optimal consumption in the presence of...
Persistent link: https://www.econbiz.de/10012905525
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Global Liquidity Glut or Global Savings Glut? A Structural VAR Approach
Bracke, Thierry - 2008
; hypothesis), (ii) preference shocks (quot;savings glutquot; hypothesis), and (iii) investment shocks (quot;investment droughtquot … part of the variation in imbalances and financial market prices. We find that savings shocks and investment shocks explain … imbalances in the US and emerging Asia than a quot;savings glutquot …
Persistent link: https://www.econbiz.de/10012771616