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Persistent link: https://www.econbiz.de/10009233948
Fiscal policy in the U.S. and other countries renders intertemporal budgets non-differentiable, nonconvex, and discontinuous. Consequently, assessing work and saving responses to policy requires global optimization. This paper develops the Global Life-Cycle Optimizer (GLO), a stochastic...
Persistent link: https://www.econbiz.de/10014528375
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The developed world stands at the fore of a phenomenal demographic transition. Over the next 30 years the number of elderly in the OECD countries will more than double. At the same time, the number of workers available to pay the elderly their government-guaranteed pension and health care...
Persistent link: https://www.econbiz.de/10010498971
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changes in fertility and mortality on the developed world's demographic transition. The model features three regions - the U ….S., Japan, and the EU-15 - and incorporates age- and time-specific fertility and mortality rates, detailed fiscal institutions … economic consequences of both higher fertility and lower mortality rates. The simulations indicate very minor effects on the …
Persistent link: https://www.econbiz.de/10013318892
The world’s leading economies, both developed and developing, are engaged in an ever changing economic symbiosis that is governed in large part by demographics and technological change, but also by pension, healthcare, and other fiscal policies. This interconnected economic evolution - what...
Persistent link: https://www.econbiz.de/10014189159
changes in fertility and mortality on the developed worlds̕ demographic transition. The model features three regions the U ….S., Japan, and the EU-15 and incorporates age- and time-specific fertility and mortality rates, detailed fiscal institutions … economic consequences of both higher fertility and lower mortality rates. The simulations indicate very minor effects on the …
Persistent link: https://www.econbiz.de/10002521588
Persistent link: https://www.econbiz.de/10003743531
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