Showing 1 - 10 of 212
In this paper, we study a general equilibrium model with overlapping generations, endogenous fertility and public pensions. By assuming Cobb–Douglas technology and logarithmic preferences, we show that the introduction of a fertility-related component in the pay-as-you-go pension scheme may...
Persistent link: https://www.econbiz.de/10010993431
Compared to other factors, the role of the age distribution of the population as a key endogenous determinant of economic growth trajectories has traditionally been overlooked. This is unrealistic, especially when dealing with major epochs of structural change, such as demographic transitions....
Persistent link: https://www.econbiz.de/10010993464
We examine the effects of child policies on both transitional dynamics and long-term demo-economic outcomes in an overlapping-generations neoclassical growth model à la Chakraborty (J Econ Theory 116(1):119–137, 2004) extended with endogenous fertility under the assumption of weak altruism...
Persistent link: https://www.econbiz.de/10010993476
This paper introduces the concept of unintentional bequests in a closed economy à la Chakraborty (J Econ Theory 116:119–137, <CitationRef CitationID="CR14">2004</CitationRef>) with overlapping generations. We show that scarce public investments in health can lead to poverty traps depending on the relative size of the output elasticity...</citationref>
Persistent link: https://www.econbiz.de/10010993500
This paper compares two alternative incentive schemes, performance-related pay (PRP) and relative performance evaluation (RPE), in a differentiated duopoly where institutional features constrain firms to pay workers a given salary. It is shown that RPE endogenously arises as the optimal choice...
Persistent link: https://www.econbiz.de/10010903226
In this paper the dynamical effects of public environmental policies are investigated in a Cournot duopoly with heterogeneous expectations in a context of limited rationality. It is shown that the introduction of upper limits to emissions always tends to destabilise and generate a chaotic market...
Persistent link: https://www.econbiz.de/10010932985
This paper discusses the dynamics of a standard (double Cobb-Douglas) labour market under the circumstance of changes in returns to labour. Despite the simplicity as well as the vast diffusion of this model, such an issue has so far escaped closer scrutiny by economic dynamics literature. This...
Persistent link: https://www.econbiz.de/10010932988
Motivated by the increasing literature on endogenous preferences as well as on endogenous fertility, this paper investigates the implications of the interaction of the endogenous determination of the number of children with habit and aspiration formation in an OLG model. In contrast with the...
Persistent link: https://www.econbiz.de/10010932989
This paper analyses the effects of a downstream merger in a differentiated duopoly under price competition and plant-specific unions. We show, in contrast with the preceding literature, that the standard welfare results may be reversed: a downstream merger may increase consumer surplus and...
Persistent link: https://www.econbiz.de/10010932990
Abstract Motivated by the widespread presence both of decentralised unions and cross-participation at ownership level (for instance in Japan and US), this paper aims at investigating whether the conventional wisdom that a reduction in the degree of product differentiation (which increases...
Persistent link: https://www.econbiz.de/10010932991