We model a pay-as-you-go (PAYG) pension system as a series of incomplete intergenerational contracts. Each generation pays a pension to its parents as the price for a premortal transferral of economic property rights. The terms of this intergenerational trade are fixed in a social contract,...

The paper considers an unfunded linear pension system when workers make labor decisions more often than once in their life. To capture this feature, a three-period-overlapping-generations model is employed. On the one hand, the paper analyzes whether or not a Pay-as-you-go pension scheme is...

Contemporary demographic processes forcing increasing attention to the problems of relationships and dependencies between the different age groups. The ageing of the population in each society leads to changes in the contacts between young people, adults and the elderly. It is reasonable to...

We identify the degree of intergenerational altruism in an OLG framework à la Barro exploiting the quasi-experimental variation generated by reforms of bequest taxation (estate or inheritance tax, in the U.S.) and taxes on inter vivos real estate donations (gift tax, in the U.S.) that were...

This paper models the dynamic of migration with a particular focus on the cumulative process that causes a variation in the distribution of income in sending communities and therefore a variation in the distribution of skills across different cohorts. The model provides a theoretical framework...

The aim of this paper is to estimate income advantages arising from publicly provided education and to analyse their impact on the income distribution in Germany. Using representative micro-data from the SOEP and considering regional and education-specific variation, from a cross-sectional...

Over the last decades the German education system underwent numerous reforms in order to improve "equality of opportunity", i.e. to guarantee all pupils equal access to higher education. At the same time internationally comparative evidence yields that Germany features particularly low...