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This paper develops a small-scale DSGE model which embeds a demographic structure within a monetary policy framework. We extend the tractable, though non-monetary overlapping-generations model of Gertler (1999) and present a small synthesis model which combines the set-up of Gertler with a...
Persistent link: https://www.econbiz.de/10011605319
Das Rentenversicherungssystem in Deutschland wird zunehmend kritisiert) weil das zugrundeliegende Umlageverfahren langfristig nicht mehr tragbar sein soll. • Führt die demographische Entwicklung tatsächlich zu solchen Ergebnissen? Oder werden Faktoren, wie eine Erhöhung der...
Persistent link: https://www.econbiz.de/10010301595
The paper discusses the consequences for the functioning of different pension systems of various types of socioeconomic changes, mainly demographic developments, variations in productivity growth and changes in real interest rates. Two of the pension systems have exogenous and four have...
Persistent link: https://www.econbiz.de/10010335128
Alle Bevölkerungsvorausberechnungen gehen von einer starken Schrumpfung bei gleichzeitiger Alterung der Bevölkerung in Deutschland aus. Derartige Schätzungen sind möglich, weil die demographische Entwicklung der kommenden Jahrzehnte zu einem erheblichen Teil durch Entwicklungen der...
Persistent link: https://www.econbiz.de/10012017876
We model the optimal reaction of a public PAYG pension system to demographic shocks. We compare the ex-ante first best and second best solution of a Ramsey planner with full commitment to the outcome under simple third best rules that mimic the pension systems observed in the real world. The...
Persistent link: https://www.econbiz.de/10010264455
In seinem Kommentar nimmt Eckart Bomsdorf, Universität zu Köln, Stellung zu den Rentenreformplänen der Bundesregierung. Seiner Meinung nach enthält der Gesetzesentwurf sowohl Positives, z.B. bei der Erwerbsminderungsrente, als auch Widersprüchliches, z.B. bei der sogenannten Rente mit 63....
Persistent link: https://www.econbiz.de/10011693644
Population aging will be a major determinant of long-run economic development in industrial and developing countries. The extent of the demographic changes is dramatic in some countries and will deeply affect future labor, financial and goods markets. The expected strain on public budgets and...
Persistent link: https://www.econbiz.de/10010279841
Pay-as-you-go pension programs can help to share risk amongst generations. While a wage-indexed pension program is best suited to share labor income risk, I show that the combination of stochastic labor income and stochastic population growth may reduce the possibilities for intergenerational...
Persistent link: https://www.econbiz.de/10010308319
We use data from the Luxembourg Income Study in order to quantify the economy-wide monetary gains achieved by household …-size economies due to within-household sharing of goods by individuals living in multimember households. In most countries out of the … twenty countries we examine, we observe a decline in monetary gains achieved by household-size economies over time. This …
Persistent link: https://www.econbiz.de/10010335538
Persistent link: https://www.econbiz.de/10011602253