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Ageing, Government Budgets, Retirement, and Growth
Gonzalez-Eiras, Martín; Niepelt, Dirk - 2011
politico-economic equilibrium. Growth is driven by capital accumulation and productivity increases fueled by public investment … of public investment. …
Persistent link: https://www.econbiz.de/10011430084
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The Future of Social Security
Gonzalez-Eiras, Martín; Niepelt, Dirk - 2007
social security benefits per retiree. The response of equilibrium tax rates to demographic shocks reduces old-age consumption …
Persistent link: https://www.econbiz.de/10011430067
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Intergenerational risk sharing in the spirit of Arrow, Debreu, and Rawls, with applications to social security design
Ball, Laurence; Mankiw, N. Gregory - 2002
This paper examines the optimal allocation of risk in an overlapping-generations economy It compares the allocation of risk the economy reaches naturally to the allocation that would be reached if generations behind a Rawlsian 'veil of ignorance' could share risk with one another through...
Persistent link: https://www.econbiz.de/10010293496
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Optimal quota for sector-specific immigration
Mayr, Karin - 2008
Sectoral labor supply shortage is a cause of concern in many OECD countries and has raised support for immigration as a potential remedy. In this paper, we derive a general equilibrium model with overlapping generations, where natives require a compensating wage differential for working in one...
Persistent link: https://www.econbiz.de/10010294883
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Age Distributions and the Current Account -A Changing Relation?
Lindh, Thomas; Malmberg, Bo - 1999
-1995, we find that the age effects on saving are similar to results on world samples but the effects on investment are very …. The reason is different effects on saving and investment from cohort-size variation. In a panel of annual OECD data 1960 … different. The respective age profiles of saving and investment are much more similar in the OECD sample. This may be one factor …
Persistent link: https://www.econbiz.de/10010321710
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Current account patterns and national real estate markets
Aizenman, Joshua; Jinjarak, Yothin - 2008
This paper studies the association between the current account and real estate valuation across countries, subject to data availability [43 countries, of which 25 are OECD], during 1990 - 2005. We find robust and strong positive association between current account deficits and the appreciation...
Persistent link: https://www.econbiz.de/10010285300
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Trade, gravity and sudden stops: On how commercial trade can increase the stability of capital flows
Cavallo, Eduardo A. - 2006
Financial stability is an important policy objective, since crises are associated with large economic, social and political costs. Promoting stability requires preventing 'sudden stops' in capital flows, which are events in which foreign financing abruptly disappears. This paper contributes to...
Persistent link: https://www.econbiz.de/10010278261
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Trade, gravity, and sudden stops: On how commercial trade can increase the stability of capital flows
Cavallo, Eduardo A.; Cavallo, Eduardo A. - 2005
Financial stability is an important policy objective since crises are associated with big economic, social, and political costs. Promoting stability requires preventing 'sudden stops' in capital flows, which are events in which foreign financing abruptly disappears. This paper contributes to the...
Persistent link: https://www.econbiz.de/10010397715
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Emerging from the war: Gold standard mentality, current accounts and the international business cycle 1885-1939
Hoffmann, Mathias; Woitek, Ulrich - 2011
We study international business cycles and capital flows in the UK, the United States and the Emerging Periphery in the period 1885-1939. Based on the same set of parameters, our model explains current account dynamics under both the Classical Gold Standard and during the Interwar period. We...
Persistent link: https://www.econbiz.de/10010316919
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Controlling capital? Legal restrictions and the asset composition of international financial flows
Binici, Mahir; Hutchison, Michael; Schindler, Martin - 2009
Legal restrictions on international capital movements are imposed in many countries in an attempt to (partially) insulate their economies from abroad and pursue some degree of domestic policy independence. But is the imposition of capital controls effective in achieving these goals? We...
Persistent link: https://www.econbiz.de/10010287761