We document the presence of a trade-off between unemployment benefits (UB) and employment protection legislation (EPL) in the provision of insurance against labor market risk. Different countries' locations along this trade-off represent stable, hard to modify, politico-economic equilibria. We...

We document the presence of a trade-off between unemployment benefits (UB) and employment protection legislation (EPL) in the provision of insurance against labour market risk. The mix of quantity restrictions and price regulations adopted by the various countries would seem to correspond to a...

The aim of this paper is to compute, using an accounting exercise, the effect of immigrants over the three factors, which determine the income per capita (demographic factor, employment rate and productivity). We saw that immigration has had a positive effect over the two first, but negative...

Bismarckian social security systems are associated with larger public pension expenditures, a smaller fraction of private pension and lower income inequality than Beveridgean systems. This paper introduces a bidimensional voting model to account for all these features. Agents differ in age,...

We analyse risk sharing and endogenous fiscal spending in a two-region model with sequentially complete markets. Fiscal policy is determined by majority voting. When policy setting is decentralized, regions choose pro-cyclical fiscal spending in an attempt to manipulate security prices to their...

We try to build a quantitative-theoretical framework to understand the impact of immigration on the Spanish pension system, both during the last ten years and, more importantly, during the future fifty years. In other words, we look at the recent past in a tentative to predict the future....

This paper explores the properties of several notions of efficiency (A−efficiency, P−efficiency and Millian efficiency) to evaluate allocations in a general overlapping generations setting with endogenous fertility and descendant altruism that includes, as a particular case, Barro and...

El objetivo principal de este artículo es realizar un análisis de los distintos modelos de Estado de Bienestar en Europa. En primer lugar, utilizando una metodología puramente estadística, clasificamos los distintos modelos en función no sólo del grado de generosidad de los distintos...

Existe una duda razonable de que los países de la OCDE puedan seguir pagando pensiones de una cuantía suficiente a los ciudadanos que se jubilen en las próximas décadas. La dinámica demográfica del envejecimiento de la población (con espectaculares aumentos en la esperanza de vida) y la...

The social and economic performances that our societies are experiencing announce a wide set of implications in many areas of our life. Relative ageing and labour market participation of the eldest dynamics evolve along two separated paths: in one way the duration of life is continuously...