Showing 1 - 7 of 7
This paper presents the first comprehensive Target database of the Eurozone and interprets it from an economic perspective. We show that the Target accounts measure the intra-Eurozone balances of payments and indirectly also international credit given through the Eurosystem in terms of...
Persistent link: https://www.econbiz.de/10010988712
When consumers choose between clean and dirty goods and the labour market clears, a green tax reform may not bring about a double dividend in the sense of increasing environmental quality and increasing employment. However, when firms choose between clean and dirty factors of production, and...
Persistent link: https://www.econbiz.de/10005711282
Persistent link: https://www.econbiz.de/10005711305
This paper discusses how an industrialized country could defend the living standard of its unskilled workers against the wage competition from immigrants. It shows that fixing social replacement incomes implies migration into unemployment. Defending wages with replacement incomes brings about...
Persistent link: https://www.econbiz.de/10005711324
Persistent link: https://www.econbiz.de/10005711521
Persistent link: https://www.econbiz.de/10005678568
Based on explicit presentvalue calculations, the paper criticizes the view that the PAYGOsystem wastes economic resources. In present value terms, thereis nothing to be gained from a transition to a funded systemeven though the latter offers a permanently higher rate of return.The sum of the...
Persistent link: https://www.econbiz.de/10005542941