The present paper quantifies the economic consequences of eliminating the system of income splitting in Germany. We apply a dynamic simulation model with overlapping generations where single and married agents decide on labor supply and homework under income and life-span risk. We compute...

The paper aims to assess tax-favored retirement accounts in a general-equilibrium overlapping-generations economy with idiosyncratic income risk and borrowing constraints. Our simulations indicate that tax-favored retirement accounts as implemented in many OECD countries will have a significant...

This paper develops a three-region dynamic general-equilibrium life-cycle model to analyze general and skill-specific immigration policy in the U.S., Japan, and the E.U. Immigration is often offered as a solution to the remarkable demographic transition underway in the developed world. However,...