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sustainability of the PAYG pension system in most developed countries, including in Spain. Many countries need to introduce reforms … of their pension systems in order to control their expenditure, and in some cases this has already begun. However, there …. We have used an accounting model with heterogeneous agents and overlapping generations in order to project pension …
Persistent link: https://www.econbiz.de/10012530444
In this article we extend the recent literature on overlapping generations with a pollution sector by allowing generations to have a certain pollution perception with regards to the stock of pollution. Pollution perception, assumed to be part of the generations' preferences, can be either a...
Persistent link: https://www.econbiz.de/10009452479
Pension reform is one of the biggest challenges facing national governments. How toreform the old pay-as-you-go (PAYG …) systems is still under hot debate; one of themost influential funded pension schemes is designed by the World Bank. In … linkbetween economic growth and pension reform towards World Bank model, our panelestimation suggests a negative relationship in …
Persistent link: https://www.econbiz.de/10009465450
, economic regime and retirement pension7 State-aided promotion in Germany8 State-aided promotion in Great Britain9 Findings and …) that may be utilized as part of individual pension plans. The developments in Great Britain and in Germany are compared … fundamentals3 Life insurance in respect of retirement4 Development of life insurance5 Development of the National Insurance6 State …
Persistent link: https://www.econbiz.de/10009450192
Krankenversicherung (GKV) daher die Forschungsfrage, ob in einer marktwirtschaftlichen Ordnung Generationengerechtigkeit umgesetzt wird … bzw. wer von ihrer Umsetzung einen Nutzen hat.Zun?chst wird auf Grundlage der Theorie der Neuen Politischen ?konomik … evaluated from the point of view of public choice theory to see if, and if yes, to what extent, it is intergenerationally …
Persistent link: https://www.econbiz.de/10009485591
Replaced with revised version of paper 08/24/09.
Persistent link: https://www.econbiz.de/10009444818
We consider a Diamond-type model of endogenous growth in which there are three assets: fiat money, government bonds, and equity. Because of productivity shocks, the equity return is uncertain, and risk-averse investors require a positive equity premium. Typically, there exist two steady states,...
Persistent link: https://www.econbiz.de/10009471679
We incorporate a wage-bargaining structure in a dynamic general equilibrium model and show how this feature changes short- and long-run properties of equilibria compared with a perfectly competitive setting.We discuss how employment, capital and income shares respond to wage-setting shocks and...
Persistent link: https://www.econbiz.de/10009471681
This paper considers an endogenous growth model with productive government spending in which overlapping generations of agents vote sequentially on policy. With sequential majority voting, there is a multiplicity of politico-economic equilibria originating from self-fulfilling policy...
Persistent link: https://www.econbiz.de/10009471682
In this paper, we analyze how to utilize discount rates in intergenerational projects. Firstly, neoclassical decision-making is depicted in Ramsey and overlapping-generations models (OLG-models). Afterwards we investigate the utilization of time preference rates and opportunity cost rates in an...
Persistent link: https://www.econbiz.de/10009475344