-boom/baby-bust cycle leads to welfare losses of about 5% of lifetime consumption for some cohorts. We argue that it is crucial for these …

-generations framework we show that in an environment characterized by unemployment, a reform towards a private pension system in the steady … welfare of all future generations, the reduction in the welfare of the elderly due to reduced pension benefits may be greater …

bargaining, minimum wages, employment protection and unemployment benefits affect the way in which wages respond to labor supply … characterized by considerable differences in labor market institutions and welfare states. Institutions such as collective … shocks, and, hence, the labor market effects of immigration. We employ a wage-setting approach which assumes that wages …

generations model with endogenous growth, unemployment and a social security system comprising pensions and unemployment benefits … cut wage-related social security contributions to reduce unemployment. The analysis is carried out in an overlapping …

predict population ageing to lead to higher social security tax rates, a rising share of pensions in GDP, but eventually lower …

's theoretical framework: (i) wages are higher in states with more generous unemployment benefits, (ii) the perceived probability of … pay and the local unemployment rate - in modern U.S. data. Consistent with recent evidence from more than 40 other … job-finding is lower in states with higher unemployment, and (iii) employees are less happy in states that have higher …

We study the welfare effects of earnings testing flat-rate old-age benefits in a quantitative overlapping generations …

We consider a dynamic general equilibrium model with collective wage bargaining and investigate how unemployment … unemployment persistence by its adverse impact on growth, and may even destabilize the adjustment path. If this is the case, a … future fiscal consolidation is needed which further raises unemployment. These results are consistent with empirical evidence …