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The political economy of public investment when population is aging : a panel cointegration analysis

Jäger, Philipp; Schmidt, Torsten - 2015

aging on public investment. Moreover, the estimation of an error correction model reveals long-run Granger causality running … exclusively from aging to investment. Our results are robust to the inclusion of additional control variables typically considered …

Persistent link: https://www.econbiz.de/10010519083

Pension incentives and labor supply : evidence from the introduction of universal old-age assistance in the UK

Giesecke, Matthias; Jäger, Philipp - 2020

In dieser Studie untersuchen wir wie das Arbeitsangebot und die gesellschaftliche Wohlfahrt auf die Einführung einer …

Persistent link: https://www.econbiz.de/10012206620

Can pensions save lives? : evidence from the introduction of old-age assistance in the UK

Jäger, Philipp - 2023

I study the impact of old-age assistance on mortality using the introduction of public pensions in the UK in 1909 as a quasi-natural experiment. Exploiting the newly created pension eligibility age through a difference-in-difference as well as an event-time design, I show that elderly mortality...

Persistent link: https://www.econbiz.de/10014235352

Bismarck in the bedroom? : pension reform and fertility : evidence 1870-2010

Jäger, Philipp - 2017

Rising public pension generosity has frequently been cited as one reason for the (persistently) declining fertility rates in many advanced economies. Despite the theoretical appeal, empirical evidence on the pension-fertility nexus is limited. To fill this gap, I study country-level fertility...

Persistent link: https://www.econbiz.de/10011608047

Aging and real estate prices in Germany

Breidenbach, Philipp; Jäger, Philipp; Taruttis, Lisa - 2022

robust empirical evidence that population aging depresses real estate prices and rents. Using millions of individual real … have been up to 12% higher, if the population age distribution had been the same as in 2008. We show that population aging … demand for living space and live-cycle dissaving are driving our results. We predict that population aging will continue to …

Persistent link: https://www.econbiz.de/10013415857

Practice and prospects of medium-term economic forecasting

Hofer, Helmut; Schmidt, Torsten; Weyerstrass, Klaus - 2010

Government agencies and other national and international institutions are asked to perform forecasts over the medium term. In particular, the EU Stability and Growth Pact contains the obligation to formulate stability programmes over four years, covering a general economic outlook as well as the...

Persistent link: https://www.econbiz.de/10003950892

Demographic change and the labour share of income

Schmidt, Torsten; Vosen, Simeon - 2010

Despite similar levels of per capita income, education, and technology the development of labour shares in OECD countries has displayed different patterns since 1960. The paper examines the role of demography in this regard. Employing an overlapping generations model we first examine the...

Persistent link: https://www.econbiz.de/10003929142

Long-run trends or short-run fluctuations : what establishes the correlation between oil and food prices?

Krätschell, Karoline; Schmidt, Torsten - 2012

In this paper we use the frequency domain Granger causality test of Breitung/Candelon (2006) to analyse short- and long-run causality between energy prices and prices of food commodities. We find that the oil price Granger causes all the considered food prices. However, when controlling for...

Persistent link: https://www.econbiz.de/10009580087

Oil price effects on land use competition : an empirical analysis

Diermeier, Matthias; Schmidt, Torsten - 2012

The increasing use of food commodities for biofuel production has substantial impact on prices and quantities of these and other food commodities. It is therefore likely that this trend also intensifies the competition for arable land. However, evidence for this hypothesis is generated by...

Persistent link: https://www.econbiz.de/10009580156

Forecasting house prices in Germany

Meulen, Philipp an de; Micheli, Martin; Schmidt, Torsten - 2011

In the academic debate there is a broad consensus that house price fluctuations have a substantial impact on financial stability and real economic activity. Therefore, it is important to have timely information on actual and expected house price developments. The aim of this paper is to measure...

Persistent link: https://www.econbiz.de/10009581044