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Pareto improving social security reform when financial markets are incomplete!?

Krueger, Dirk; Kubler, Felix - Center for Financial Studies - 2005

aggregate risk between generations. Our quantitative analysis shows that, abstracting from the capital crowding-out effect, the …

Persistent link: https://www.econbiz.de/10010958741

Pareto improving social security reform when financial markets are incomplete!?

Krueger, Dirk; Kubler, Felix - 2005

aggregate risk between generations. Our quantitative analysis shows that, abstracting from the capital crowding-out effect, the …

Persistent link: https://www.econbiz.de/10010298302

Pareto Improving Social Security Reform when Financial Markets Are Incomplete

Krueger, Dirk; Kübler, Felix - C.E.P.R. Discussion Papers - 2005

aggregate risk between generations. Our quantitative analysis shows that, abstracting from the capital crowding-out effect, the …

Persistent link: https://www.econbiz.de/10005123907

Pareto Improving Social Security Reform when Financial Markets are Incomplete?

Krueger, Dirk; Kubler, Felix - National Bureau of Economic Research (NBER) - 2003

may serve as an effective tool to share aggregate risk between generations. Our quantitative analysis shows that, first … social security does indeed represent a Pareto improving reform, if households are both fairly risk-averse and fairly willing … overturns these gains for degrees of risk aversion and intertemporal elasticity of substitution commonly used in the literature. …

Persistent link: https://www.econbiz.de/10005575784

Pareto Improving Social Security Reform when Financial Markets are Incomplete!?

Krueger, Dirk; Kubler, Felix - Center for Financial Studies - 2005

aggregate risk between generations. Our quantitative analysis shows that, abstracting from the capital crowding-out effect, the …

Persistent link: https://www.econbiz.de/10005176438

Social Security Reform with Heterogeneous Agents

Conesa, Juan C.; Krueger, Dirk - In: Review of Economic Dynamics 2 (1999) 4, pp. 757-795

This paper analyzes the quantitative role of idiosyncratic uncertainty in an economy in which rational agents vote on hypothetical social security reforms. We find that the role of a pay-as-you-go social security system as a partial insurance and redistribution device significantly reduces...

Persistent link: https://www.econbiz.de/10005090974

On the Consequences of Demographic Change for International Capital Flows, Rates of Returns to Capital, and the Distribution of Wealth and Welfare

Krueger, Dirk; Ludwig, Alexander - Society for Economic Dynamics - SED - 2006

In all major industrialized countries the population is aging over time, reducing the fraction of the population in working age. Consequently labor is expected to be scarce, relative to capital, with an ensuing decline in real returns on capital and increases in real wages. This paper employs a...

Persistent link: https://www.econbiz.de/10005069350

Voiting on social security reform with heterogeneous agents

Conesa, Juan Carlos; Krueger, Dirk - Facultat d'Economia i Empresa, Universitat de Barcelona - 1998

hypothetical social security reforms. We construct an Overlapping Generations economy in which individuals face idiosuncratic risk …

Persistent link: https://www.econbiz.de/10005022363

Pareto Improving Social Security Reform When Financial Markets are Incomplete!?

Krueger, Dirk - 2008

aggregate risk between generations. Our quantitative analysis shows that, abstracting from the capital crowding-out effect, the …

Persistent link: https://www.econbiz.de/10012774410

Should Germany Have Built a New Wall? Macroeconomic Lessons from the 2015-18 Refugee Wave

Busch, Christopher; Krueger, Dirk; Ludwig, Alexander; … - 2020

In 2015-2016 Germany experienced a wave of predominantly low-skilled refugee immigration. We evaluate its macroeconomic and distributional eﬀects using a quantitative overlapping generations model calibrated using German micro data to replicate education and productivity diﬀerentials between...

Persistent link: https://www.econbiz.de/10014100373