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The Aging of the Population and the Size of the Welfare State

Swagel, Phillip - 2002

Data for the United States and countries in Western Europe indicate a negative correlation between the dependency ratio and both labor tax rates and the generosity of social transfers, after controlling for other factors that influence the size of the welfare state. This is despite the increased...

Persistent link: https://www.econbiz.de/10014399587

Generational Accounts, Aggregate Savings, and Intergenerational Distribution

Buiter, Willem H. - 1996

redistribution associated with the government’s provision of public goods and services and with intergenerational externalities …

Persistent link: https://www.econbiz.de/10014397511

Demographic transition and pension reforms : adding demographics to GIMF

Carton, Benjamin; Fernandez-Corugedo, Emilio; Hunt, … - 2020

The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed at the International Monetary Fund for policy analysis and international economic research. This paper documents the incorporation of demographic features into the model. The analysis...

Persistent link: https://www.econbiz.de/10012300678

Fiscal redistribution and social welfare

Coady, David P.; D'Angelo, Devin; Evans, Brooks - 2019

discussion of fiscal redistribution within the standard social welfare framework, which lends itself to a transparent and … practical evaluation of the extent and determinants of fiscal redistribution. Differences in fiscal redistribution are … determine the factors explaining differences in their fiscal redistribution and to discuss patterns in fiscal redistribution …

Persistent link: https://www.econbiz.de/10012009467

A tradeoff between the output and current account effects of pension reform

Catalán, Mario; Magud, Nicolas - 2012

We compare the long-term output and current account effects of pension reforms that increase the retirement age with those of reforms that cut pension benefits, conditional on reforms achieving similar fiscal targets. We show the presence of a policy trade-off. Pension reforms that increase the...

Persistent link: https://www.econbiz.de/10012671560

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/10012299350

A requiem for the fiscal theory of the price level

Farmer, Roger E. A.; Zabczyk, Pawel - 2019

The Fiscal Theory of the Price Level (FTPL) is the claim that, in a popular class of theoretical models, the price …

Persistent link: https://www.econbiz.de/10012112131

Aging, secular stagnation and the business cycle

Jones, Callum - 2018

As of 2015, U.S. log output per capita was 12 percent below what its pre-2008 linear trend would predict. To understand why, I develop and estimate a model of the US with demographics, real and monetary shocks, and the occasionally binding ZLB on nominal rates. Demographic changes generate...

Persistent link: https://www.econbiz.de/10011848197

The Intragenerational Redistributive Effects of Unfunded Pension Programs

Cubeddu, Luis M. - 1998

This paper provides a quantitative evaluation of the intracohort redistributive elements of the U.S. social security system in the context of a computable general equilibrium model. It determines how the well-being of individuals that differ by gender, race, and education is affected by the...

Persistent link: https://www.econbiz.de/10014400168

Composition of Government Expenditures and Demand for Education in Developing Countries

Matovu, John - 2002

This paper addresses the potential effects on human capital accumulation and economic growth of the alternative compositions of public expenditures in the context of a computable dynamic general equilibrium model of overlapping generations and heterogeneous agents in which altruistic parents...

Persistent link: https://www.econbiz.de/10014400202

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