Showing 1 - 10 of 197
Technology policy is the most widespread form of climate policy and is often preferred over seemingly efficient carbon pricing. We propose a new explanation for this observation: gains that predominantly accrue to households with large capital assets and that influence majority decisions in...
Persistent link: https://www.econbiz.de/10014313931
This paper presents a dense summary of the most fundamental results on the issue of PAYG Social Security. They are presented in a simple and insightful analytical framework by working from the budget constraint of the household. The results presented in detail are a representation of the...
Persistent link: https://www.econbiz.de/10010308318
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
The German Income Tax Reform 2000 was welcomed by the public as a step towards unleashing lurking growth potentials. Nonetheless, in the course of the year 2001a dispute arose, centering around the question, whether or not the later stages of the German Income Tax Reform should be brought...
Persistent link: https://www.econbiz.de/10010308321
We study an exchange economy with overlapping generations of consumers who derive utility from consuming a non-durable commodity and housing. A banking sector offers loans to finance housing. We provide a complete characterization of the equilibrium dynamics which alternates between an expansive...
Persistent link: https://www.econbiz.de/10010308946
expectancy. We integrate the theory into a unified growth model and reestablish increasing life expectancy as an engine of long …
Persistent link: https://www.econbiz.de/10010311688
expectancy and educational attainment. This paper provides a positive theory that explains how an economy might evolve when the … innovation policy. The theory focuses on the crucial role played by heterogeneous interests in determining innovation policies …
Persistent link: https://www.econbiz.de/10010312332
This article investigates the influence of environmental policy on growth assuming that the channel of transmission relies on the link between pollution, health and the survival probability, in an overlapping generations model à la Blanchard (1985) where growth is driven by a mechanism à la...
Persistent link: https://www.econbiz.de/10010312526
Using an overlapping generation model à la Blanchard (1985) with human capital accumulation, this article demonstrates that the influence of environment on optimal growth in the long-run may be explained by the detrimental effect of pollution on life expectancy. It also shows that, in such a...
Persistent link: https://www.econbiz.de/10010312553
We develop an overlapping generations model where consumption is the source of polluting emissions. Pollution stock accumulates with emissions but is partially assimilated by nature at each period. The assimilation capacity of nature is limited and vanishes beyond a critical level of pollution....
Persistent link: https://www.econbiz.de/10010312559