How to deliver adequate pension benefits at reasonable costs is a huge challenge confronting our ageing societies. This book delivers a comprehensive overview of the latest insights into pension finance, pension system design, pension governance and risk based supervision. It combines...

Der Zusammenhang zwischen Alter und Leistungsfähigkeit von Beschäftigten wird in den verschiedensten Disziplinen untersucht – mit zum Teil recht unterschiedlichen Ergebnissen. Dieser Beitrag gibt einen Überblick über die Literatur und diskutiert die Notwendigkeit einer neuen Sicht der...

This paper studies the employment effects of technological change when benefits are endogenous. If the (i) level of welfare aid depends on the general income level in the economy and (ii) wages for unskilled workers cannot fall below the level of welfare aid, there is a link between the wage for...

We propose and test a general equilibrium model in which longer working time and higher labor force participation lead to a fall in unemployment. Longer working hours and higher labor force participation have two direct e®ects: People have higher in- comes and less (leisure) time. This has...

In Acemoglu's model of directed technical change (1998 in this Journal), the skill-premium increases in consequence of an increase in the relative supply of skilled labor. In this paper, I argue that other measures of wage inequality such as the Gini-coefficient do not necessarily rise as well....

In this paper, we study the effect of skill-biased technological change on unemployment when benefits are linked to the evolution of average income and when this is not the case. In the former case, an increase in the productivity of skilled workers and hence their wage leads to an increase in...

This paper challenges the common view that skill-biased technological change boosts wage inequality. In a multi-sector economy, relative wages depend not only on relative productivities but also on relative goods prices. If ther are complementarities between goods that do not benefit greatly...

Das deutsche Gesundheitssystem mag einen hartnäckigen Schnupfen haben, aber mit einem Schnupfen kann man leben, und andere Gesundheitssysteme haben auch ihre Probleme. An der Zukunftsfähigkeit des deutschen Gesundheitssystems muß aber gezweifelt werden, da viele Selbstheilungskräfte im...

Over and again, the reduction of working time is praised as the instrument against unemployment in Europe. While the first round argument appears obvious – less work for some will create more work for others – second round repercussions, such as consequential labor cost increases, put doubt...