In recent research age distribution effects on the current account have been found in cross-country panel regressions. The reason is different effects on saving and investment from cohort-size variation. In a panel of annual OECD data 1960-1995, we find that the age effects on saving are similar...

In den nächsten Dekaden wird die Bevölkerung nicht nur in Deutschland immer älter. Gibt es einen statistischen Zusammenhang zwischen der Altersstruktur einer Gesellschaft und zentralen makroökonomischen Variablen? Welche Konsequenzen hat die gesellschaftliche Alterung für die...

This paper reviews a growing literature investigating how economic agents may learn rational expectations. Fully rational learning requires implausible initial information assumptions, therefore some form of bounded rationality has come into focus. Such learning models often converge to rational...

Leif Johansens short run macro production function is used to explore the conditions for a productivity slowdown to take place simultaneously with an accelerated technical change in production. A capacity distribution such that the supply curve is concave at the extensive margin considerably...

A quality-adjusted specification of labor is suggested which allows firm training to affect labor efficiency. To assess the cost and productivity effects, this specification is integrated into a flexible neoclassical cost function. The empirical analysis uses panel data for eight plants in the...

Swedish unemployment was very low up to the early 1990s when it rose rapidly. At the same time manufacturing employment fell by more than 20 %. The decentralisation of wage bargaining that started in 1983 may have contributed to this by making employment more shock sensitive or by increasing...

In this paper we explore the composition of students, the study length towards diploma, and examine the likelihood of diploma, all with respect to parenthood. Few get children while enrolled in higher education, nevertheless one fourth of female university students in Sweden has children. In...

Economic behavior as well as economic resources of individuals vary with age. Swedish time series show that the age structure of the population contains information correlated to medium-term trends in growth, inflation and other macroeconomic data. GDP gaps estimated by age structure regressions...

We report evidence that the relation between the financial sector share, private savings and growth in the United States 1948-1996 is characterized by several regime shifts. The finding is based on vector autoregressions on quarterly data that allow for Markov switching regimes. The evidence may...