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This paper examines some positive and normative aspects of the inflation indexation of public and private pensions. The analysis showsthat alternative indexing arrangements may have far less impact on actual patterns of risk bearing than is usually thought to be the case. In so far as inflation...
Persistent link: https://www.econbiz.de/10012774833
We lead off by discussing a number of theoretical reasons for expecting various relationships between a firm's unfunded pension liability and its market value. We then discuss our doubts about the methodology of earlier papers which studied the empirical relation between funding and market value...
Persistent link: https://www.econbiz.de/10012754748
This paper deals with the labor market entrance of young people in the Federal Republic" of Germany. The main focus is … on failures during this stage. First, an overview of the youth" labor market in Germany is given. Then, the transition …
Persistent link: https://www.econbiz.de/10013222219
The evolution of unemployment in West Germany and the U. S. stands in sharp contrast, with German unemployment much … big difference berween the two countries is that there is no feedback from wages to prices in Germany, and so high … unemployment does not put downward pressure on the inflation rate. During the 19705 and 19805 in Germany there emerged a growing …
Persistent link: https://www.econbiz.de/10013237265
This paper presents a theoretical model dealing with the duration of youth unemployment in West Germany. Duration can …
Persistent link: https://www.econbiz.de/10013249173
This study examines the determinants of the reservation wage of unemployed persons in the Federal Republic of Germany …
Persistent link: https://www.econbiz.de/10013249255
thanstandard theories can possibly explain. We develop a theory which can explain suchpersistence, and which is based on the … theory to both the detailed facts ofthe European situation as well as to earlier periods of high persistent unemploymentsuch …
Persistent link: https://www.econbiz.de/10013230402
Modern neoclassical theories of the business cycle posit that aggregate fluctuations in consumption and employment are the consequence of dynamic optimizing behavior by economic agents who face no quantity constraint. In this paper, we estimate an explicit model :f this type. In particular, we...
Persistent link: https://www.econbiz.de/10013132070
This paper surveys major issues in the theory of tax incidence. These include the incidence of taxes in dynamic as well … literature, rather it is offered to the reader as a pedoqogical piece that may be of use in teaching the theory of tax incidence …
Persistent link: https://www.econbiz.de/10013102560
Analyses of the role of rational speculators in financial markets usually presume that such investors dampen price fluctuations by trading against liquidity or noise traders. This conclusion does not necessarily hold when noise traders follow positive-feedback investment strategies buy when...
Persistent link: https://www.econbiz.de/10012774560