"In an overlapping-generations model with endogenous birth rates, I design a reform of the pay-as-you-go pension system, which internalises positive externalities of children - their pension contributions. Individuals may differ in their preferences for children and their ability to have...

This paper follows the footprints of Arthur F. Burns and Wesley C. Mitchell in their methodology of business cycle research as developed and implemented at the National Bureau of Economic Research. Turning points of the West German business cycle are identified using the Bry-Boschan procedure...

Destabilizing political incidents may have dramatic effects on economic conditions. Foreign creditors and investors, in particular, may be reluctant to lend resources to a country whose internal stability seems shaky. We use a dynamic computable general equilibrium model to quantify the effect...