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Population, Pensions, and Endogenous Economic Growth
Heer, Burkhard; Irmen, Andreas - 2008
We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...
Persistent link: https://www.econbiz.de/10011422187
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Population Aging and the Direction of Technical Change
Irmen, Andreas - 2009
An analytical framework is developed to study the repercussions between endogenous capital- and labor-saving technical change and population aging. Following an intuition often attributed to Hicks (1932), I ask whether and how population aging aff ects the relative scarcity of factors of...
Persistent link: https://www.econbiz.de/10011422203
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Population, pensions, and endogenous economic growth
Heer, Burkhard; Irmen, Andreas - 2008
We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...
Persistent link: https://www.econbiz.de/10010264503
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Interpreting sustainability in economic terms: Dynamic efficiency plus intergenerational equity
Stavins, Robert N.; Wagner, Alexander F.; Wagner, Gernot - 2002
Economists have expended considerable effort to develop economically meaningful definitions of the somewhat elusive concept of “sustainability.” We relate such a definition of sustainability to well known concepts from neoclassical economics, in particular, potential Pareto improvements (in...
Persistent link: https://www.econbiz.de/10011335736
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Trading Off Generations: Infinitely-Lived Agent Versus OLG
Schneider, Maik T.; Traeger, Christian; Winkler, Ralph - 2010
The prevailing literature discusses intergenerational trade-offs predominantly in infinitely-lived agent models despite the finite lifetime of individuals. We discuss these trade-offs in a continuous time OLG framework and relate the results to the infinitely-lived agent setting. We identify...
Persistent link: https://www.econbiz.de/10011753192
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Trading off generations: Infinitely-lived agent versus OLG
Schneider, Maik T.; Traeger, Christian; Winkler, Ralph - 2010
The prevailing literature discusses intergenerational trade-offs predominantly in infinitely-lived agent models despite the finite lifetime of individuals. We discuss these trade-offs in a continuous time OLG framework and relate the results to the infinitely-lived agent setting. We identify...
Persistent link: https://www.econbiz.de/10010316064
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From duty to right: The role of public education in the transition to aging societies
Sugimoto, Yoshiaki; Nakagawa, Masao - 2007
This paper argues that currently advanced, aging economies experienced a qualitative change in the role of public education during the process of industrialization. In the early phases of the Industrial Revolution, public education was regarded as a duty that regulated child labor and thereby...
Persistent link: https://www.econbiz.de/10010332212
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Pension Reforms in an Aging Society: A Fully Displayed Cohort Model
Simonovits, András - 2009
We fully display a cohort model of an economy with an aging population, taking into account varying family size, habit formation, inheritance and credit constraints. Filling the model with numbers, we are able to compare different pension reforms: 1. the base run, 2. the reduced accrual rates,...
Persistent link: https://www.econbiz.de/10010494410
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Recursive intergenerational utility in global climate risk modeling
Minh, Ha-Duong; Treich, Nicolas - 1999
This paper distinguishes relative risk aversion and resistance to intertemporal substitution in climate risk modelling …. It shows that higher risk aversion increases the optimal carbon tax. Higher resistance to intertemporal substitution … alone has the same effect as increasing the discount rate, provided that the risk is not too large. We discuss implications …
Persistent link: https://www.econbiz.de/10011608555
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A Simulation Model for the Demographic Transition in Germany: Data Requirements, Model Structure and Calibration
Jokisch, Sabine; Halder, Gitte; Fehr, Hans - 2004
All countries in the European Union stand at the fore of a phenomenal demographic transition. Especially Germany will realize an enormous aging of its population. The reasons for this development are twofold: On the one hand, the number of elderly will more than double over the coming decades....
Persistent link: https://www.econbiz.de/10010296525