We study the sustainability of pension systems using a life-cycle model with distortionary taxation that sets an upper limit to the real value of tax revenues. This limit implies an endogenous threshold dependency ratio, i.e. a point in the cross-section distribution of the population beyond...

We examine the transitional dynamics of Lucas' supply side model of the US economy in order to specify the effects of capital taxation on economic growth and welfare. We restrict the analysis to policy plans characterized by constant capital taxes and require the government to maintain a...

Inflation is often associated with a loss for the poor in the medium and long run. The cyclical effects are basically unknown. We study this question in a dynamic optimizing sticky price model. Agents are heterogeneous with regard to their age and their productivity. We emphasize three channels...

The effects of the German unemployment compensation system on aggregate savings and the distribution of wealth are studied in a general equilibrium 60-period OLG model. The distribution of wealth is derived as an endogenous function of the parameters characterizing the unemployment compensation...

This study provides evidence for the US that the secular decline in the labor share is not only explained by technical change or globalization, but also by the dynamics of factor taxation, automation capital (robots), and population growth. First, we empirically find indications of...

Der Einfluß wirtschaftspolitischer Maßnahmen auf das Zusammenspiel der Größen Wachstum, Umwelt und Bevölkerung wird im neoklassischen Wachstumsmodell untersucht. Ausgehend von der Tatsache, daß die Anzahl der Kinder sowie die Höhe der Ersparnisse endogene Größen des...