Abstract In comparison to the standard literature on inequality and growth which assumes the former to be exogenous, we formulate a model in which inequality and growth are both endogenous. Long-run distribution, at least locally, is shown to be independent of the initial distribution of factor...

Abstract In this paper I explore the quantitative implications for savings of population aging. In doing so, I pay particular attention to some features that have been partially over-looked in the literature. These features include the details of the population aging process, the initial...

Abstract Der demografische Wandel in Deutschland lässt sich auch ohne einen weiteren Abbau bei den Renten finanzieren. Eine Kapitaldeckung oder Teil-Privatisierung ist gesamtwirtschaftlich betrachtet kontraproduktiv. Hierdurch werden lediglich die Gewinn- und Vermögenseinkünfte und die...

Abstract Using national account data, we define corporate balance sheet adjustment episodes as periods during which major increases in non-financial corporations’ net lending/ borrowing are experienced. An analysis of such episodes in Germany and Japan, and a more systematic exploration of a...

This comparative international case study of cyber warfare provides a context for considering the evolution of cyber technologies as elements of hybrid warfare capable of creating confusion, disrupting communications, and impacting physical infrastructure (such as power grids and satellite-based...

U.S. longevity is placing a demand on long-term care services for the impaired and elderly. Medicaid is the primary insurance program in funding costly long-term care for the aged poor. As a major health reform law, the 2010 Patient Protection and Affordable Care Act, Public Law 111-148, gives...