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The paper analyzes the welfare consequences of insuring mortality risk by means of standard, fully funded Social … Security pensions when individuals wish to make transfers to their heirs. In the presence of uninsured mortality risk, within … insurance of the ex ante risk of future generations inheriting a particular amount of transfer wealth. We find that, once ex …
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We examine wage bargaining when employers and labor unions do not always take all general equilibrium effects into account but learn a steady state. If agents do hardly consider general equilibrium effects, low real wages and low unemployment results. With an intermediate view, when partial...
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In this paper we study how promoting product market competition by reducing mark-ups or by increasing productivity are able to complement labor market reforms. We use a simple general equilibrium model with different types of labor. The bottom-line of the paper is that product market reforms...
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This paper is intended to shed light on the extent of poverty in the Russian Federation. We present estimates of poverty lines and poverty ratios derived from subjective questions used in a during data collection for a large household panel (RUSSET). We estimate poverty using a subjective...
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