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Intergenerational Habits, Fiscal Policy, and Welfare
Velculescu, Delia - In: Contributions in Macroeconomics 4 (2004) 1
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,...
Persistent link: https://www.econbiz.de/10014588360
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Age Bias in Fiscal Policy: Why Does the Political Process Favor the Elderly?
Slavov, Sita Nataraj - In: Topics in Theoretical Economics 6 (2006) 1
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....
Persistent link: https://www.econbiz.de/10014589082
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Rat Races and Glass Ceilings
Bardsley, Peter; Sherstyuk, Katerina - In: Topics in Theoretical Economics 6 (2006) 1
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...
Persistent link: https://www.econbiz.de/10014589086
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On the Use of Projection Methods in the Computation of OLG Models / Zur Berechnung von OLG-Modellen mit Hilfe von Projektionsmethoden
Heer, Burkhard; Trede, Mark - In: Jahrbücher für Nationalökonomie und Statistik 220 (2000) 1, pp. 32-47
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...
Persistent link: https://www.econbiz.de/10014608749
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Superneutrality of Money under Open Market Operations
Homburg, Stefan - In: Review of Economics 66 (2015) 3, pp. 289-302
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...
Persistent link: https://www.econbiz.de/10014619326
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Stabilizing Endogenous Fluctuations with Fiscal Policies: Global Analysis on Piecewise Continuous Dynamical Systems
Augeraud-Veron, E.; Augier, L. - In: Studies in Nonlinear Dynamics & Econometrics 5 (2001) 1
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...
Persistent link: https://www.econbiz.de/10014620842
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How Does Job Loss Affect the Timing of Retirement?
Chan, Sewin; Stevens, Ann H - In: Contributions in Economic Analysis & Policy 3 (2004) 1, pp. 1-24
a response to altered pension incentives and earnings opportunities. Using data from the Health and Retirement Study, we … examine retirement behavior after job loss, controlling for these changed retirement incentives, along with any additional … effects of displacement not captured by retirement incentives. We find that the observed increased rates of retirement among …
Persistent link: https://www.econbiz.de/10014587493
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Making the transition to retirement: appraisals, post‐transition lifestyle, and changes in consumption patterns
Hopkins, Christopher D.; Roster, Catherine A.; Wood, … - In: Journal of Consumer Marketing 23 (2006) 2, pp. 87-99
Purpose – This research proposes to examine how the retirement experience in the USA is cultivated via the appraisal … process and reflected in post‐retirement lifestyle postures and consumption changes. Design/methodology/approach – A sample of … 298 recent retirees were surveyed to test hypotheses suggested by a proposed model of the retirement experience. The model …
Persistent link: https://www.econbiz.de/10014848518
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Choosing to retire: how companies can support and respect the decision better
Gelb, Betsy D.; Elkins Longacre, Teri - In: Journal of Business Strategy 37 (2016) 2, pp. 36-41
on the stigma that retirement means “old” and “out to pasture.” The purpose of this paper is to learn what can be done to … human resources executives across the USA concerning the challenge of reducing the stigma associated with retirement. The …-profit and non-profit settings. Organizations can position retirement as a transition to something else, and therefore a career …
Persistent link: https://www.econbiz.de/10014846927
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Pathways to early retirement in Denmark, 1984‐2000
Larsen, Mona; Pedersen, Peder J. - In: International Journal of Manpower 29 (2008) 5, pp. 384-409
individuals allocate into different pathways out of the labour force conditional on early retirement. Design … compared to those remaining in the labour force. Findings – Eight pathways from work to an early retirement programme are … identified. Overall, availability and/or generosity of retirement programmes are important for early retirement through the …
Persistent link: https://www.econbiz.de/10014783289