This paper considers a one-sector overlapping-generations model with production. We observe that under standard assumptions on preferences and technology, the perfect-foresight equilibrium violates positivity constraints for large sets of initial conditions. The consideration of the positivity...

Summary We compare projection methods with the standard value function grid algorithm in order to solve overlapping generations models. We apply the methods to a particular 60-period OLG model with elastic labor supply in order to study the effects of unfunded public pensions on aggregate...

Abstract Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open...

Abstract The present paper explores the fiscal policy implications of intergenerational habit formation in a Blanchard overlapping generations small open economy model. Three main conclusions emerge. (1) When individuals are finitely lived and have habits which they pass on to their descendants,...

Across countries, government expenditures tend to favor the elderly. This paper provides a political economy explanation for this phenomenon. I consider the classic problem of dividing a fixed payoff in an overlapping generations setting. Any share of the payoff can be given to any generation....

In an ongoing organization, such as a large law partnership firm, employees are motivated not only by current rewards but also by the prospect of promotion, and the opportunity to make the rules in the future. This leads to a recursive contract design problem in an overlapping generations...

Zusammenfassung: Seit dem Jahr 2015 ist Europa mit einer großen Flüchtlingswelle aus dem Nahen Osten und Nordafrika konfrontiert. Es wird argumentiert, dass die Geldpolitik der großen Industrieländer indirekt eine wichtige Bestimmungsgröße dieser Flüchtlingswelle ist. Ab der...

Abstract Als Folge der verstärkten Erwerbsorientierung und der demographischen Veränderungen werden individuelle Care-Verpflichtungen zunehmend ausgelagert und statt als Familienarbeit im Rahmen von marktlich organisierten Care-Arrangements bearbeitet. Die Care-Arbeiterinnen sind oftmals...

Zusammenfassung Auf dem Arbeitsmarkt existieren nach wie vor bestimmte soziale Ungleichheiten zwischen Frauen und Männern, etwa im Hinblick auf die Verortung in unterschiedlichen Berufen und hierarchischen Positionen sowie Verdienste. Andockend an die bisherige Forschung, fragen wir nach der...

This article describes how in volunteer cloud computing systems, some resources are volunteered by the hosts. These systems became more powerful and attractive because they provide a highest power computing. However, to satisfy the user requirements and the system performance in this kind of the...