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Annuity market imperfection, retirement and economic growth

Heijdra, Ben J.; Mierau, Jochen O. - 2009

We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities by introducing a load factor on the interest rate...

Persistent link: https://www.econbiz.de/10010266022

Punishment : and beyond

Frey, Bruno S. - 2009

This paper argues that the Economics of Crime concentrates too much on punishment as a policy to fight crime, which is unwise for several reasons. There are important instances in which punishment simply cannot reduce crime. Several feasible alternatives to punishment exist, such as offering...

Persistent link: https://www.econbiz.de/10010266023

Internationally coordinated emission permit policies : an option for withdrawers from the Kyoto protocol?

Bednar-Friedl, Birgit; Farmer, Karl - 2009

This paper investigates the welfare costs of unilateral versus internationally coordinated emission permit policies in a two-country overlapping generations model with producer carbon emissions. We show that, for a net foreign debtor country, the domestic welfare costs of a unilateral domestic...

Persistent link: https://www.econbiz.de/10010266024

Intra-industry adjustment to import competition : theory and application to the German clothing industry

Raff, Horst; Wagner, Joachim - 2009

This paper uses an oligopoly model with heterogeneous firms to examine how an industry adjusts to rising import competition. The model predicts that in the short run the least efficient firms in the industry become inactive, surviving firms face a fall in output, mark-ups and profits, and the...

Persistent link: https://www.econbiz.de/10010266034

Managing migration through conflicting policies : an option-theory perspective

Moretto, Michele; Vergalli, Sergio - 2009

migration choice that assumes that the decision to migrate can be described as an irreversible investment decision. In our model …

Persistent link: https://www.econbiz.de/10010266040

Social security reform and temptation

Kumru, Cagri Seda; Thanopoulos, Athanasios C. - 2009

This paper analyzes a fully funded social security system under the assumption that agents face temptation issues. Agents are required to save through individually managed Personal Security Accounts without, and with mandatory annuitization. When the analysis is restricted to CRRA preferences...

Persistent link: https://www.econbiz.de/10010266042

Suicide terrorism and the weakest link

Arce, Daniel G.; Kovenock, Dan; Roberson, Brian - 2009

In this paper we examine a model of terrorism which focuses on the tradeoffs facing a terrorist organization that has the ability to utilize either or both suicide and conventional terrorism tactics. The terrorist organization's objective is to successfully attack at least one target. Success...

Persistent link: https://www.econbiz.de/10010266043

Stay in school or start working? : the human capital investment decision under uncertainty and irreversibility

Bilkic, Natasa; Gries, Thomas; Pilichowski, Margarethe - 2009

human capital investment decision. Real option theory offers a new perspective of the human capital investment decision …As the time of leaving school determines the level of academic achievement this timing decision is central for the … analytical discussion of all determinants of the decision to terminate education and enter the labor market. Further, as we are …

Persistent link: https://www.econbiz.de/10010266045

Fertility, human capital accumulation, and the pension system

Cremer, Helmuth; Gahvari, Firouz; Pestieau, Pierre - 2009

This paper provides a unified treatment of externalities associated with fertility and human capital accumulation as they relate to pension systems. It considers as overlapping generations model in which every generation consists of high earners and low earners with the proportion of types being...

Persistent link: https://www.econbiz.de/10010266047

Innovation and trade with heterogeneous firms

Long, Ngo Van; Raff, Horst; Stähler, Frank - 2009

This paper examines how trade liberalization affects the innovation incentives of firms, and what this implies for industry productivity. For this purpose we develop a reciprocal dumping model of international trade with heterogeneous firms and endogenous R&D. Among the robust results that hold...

Persistent link: https://www.econbiz.de/10010266051