Conventional Generational Accounting only includes future benefits and burdens from the government. This paper’s contribution is to include past benefits and burdens as well, and in this way to provide a full lifetime account of how much current and future generations benefit from...

This paper presents stylized facts on energy-intensity developments for 19 OECD countries and 51 sectors over the period 1980−2005. A principal aim of this paper is to introduce and discuss a new database that combines the recently launched ‘EU KLEMS Growth and Productivity Accounts’...

We examine vertical integration and exclusive vertical restraints in health-care markets where insurers and hospitals bilaterally bargain over contracts. We employ a bargaining model in a concentrated health-care market of two hospitals and two health insurers competing on premiums. Without...

This paper introduces indicators about the division of labour to measure and interpret recent trends in employment in the Netherlands. We show that changes in the division of labour occur at three different levels: the level of the individual worker, the level of the industry and the spatial...

Residential development at the urban fringe raises the cost of trips to open space. We derive a simple expression for the tax that internalizes this effect of sprawl in a monocentric city andapply it using survey data on recreational activity. Urban sprawl is inefficient if landowners ignore...

Flexible retirement - that is, the opportunity to choose one’s own personal retirement age - serves as a hedge against pension risk and provides insurance to workers facing health or productivity shocks. This paper discusses three conditions to provide insurance through flexible...

Intergenerational risk sharing by funded pension schemes may increase welfare in an ex ante sense. However, it also suffers from a time inconsistency problem. In particular, young generations may be unwilling to start participating in a pension scheme if this requires them to make huge transfers...

This research compares systemic risk in the banking sector, the insurance sector, the construction sector, and the food sector. To measure systemic risk, we use extreme negative returns in stock market data for a time-varying panel of the 20 largest U.S. firms in each sector. We find that...

This CPB Discussion Paper addresses two policy questions with respect to public defined benefit (DB) pension schemes. Firstly, does a funded DB pension scheme increase welfare? Secondly, how large is the commitment problem of pension funds after an adverse capital market shock? This CPB...

This paper models external benefits of the transformation of an inner city industrial site into a residential area in an urban general equilibrium framework Does brownfield redevelopment warrant government support? We model external benefits of the transformation of an inner city industrial...