We propose and test a general equilibrium model in which longer working time and higher labor force participation lead to a fall in unemployment. Longer working hours and higher labor force participation have two direct e®ects: People have higher in- comes and less (leisure) time. This has...

In Acemoglu's model of directed technical change (1998 in this Journal), the skill-premium increases in consequence of an increase in the relative supply of skilled labor. In this paper, I argue that other measures of wage inequality such as the Gini-coefficient do not necessarily rise as well....

Reforms of the public pension systems are on top of the European policy agenda. Current costs are high, and the pressures will increase due to population aging and negative incentive effects. This paper describes the causes of the current pension problems and the cures required to make the...

Housing Demand in Germany and Japan Paper in memoriam of Stephen Mayo

This mea discussion paper presents excerpts of the International Savings Comparison Project covering household savings behaviour in seven countries. The whole series of comparative country studies can be found in a special issue of the journal “Research in Economics”, Volume 55, Number 2,...

Ageing is one of the greatest social and economic challenges of the 21st century in Europe. SHARE, a EU-sponsored project that will build up a Survey of Health, Aging and Retirement in Europe, will be a fundamental resource for science and public policy to help mastering this unprecedented...

Das deutsche Gesundheitssystem mag einen hartnäckigen Schnupfen haben, aber mit einem Schnupfen kann man leben, und andere Gesundheitssysteme haben auch ihre Probleme. An der Zukunftsfähigkeit des deutschen Gesundheitssystems muß aber gezweifelt werden, da viele Selbstheilungskräfte im...