In the present paper the effects of different pay-as-you-go pension systems on fertility decisions of a representative household are examined. Thereby, the analysis focuses especially on the interplay of parental quantity and quality decisions, introduced by Becker (1960). As it will be shown, a...

On efficiency grounds, a social contract can be justified if not only pension payments but also the funding of education is taken into account. By introducing a pay-as-you system, which is a type of implicit social contract, each young generation can overcome its liquidity problems with regards...

Der deutsche Wohnungsmarkt hat in den 2010er Jahren einen langen und starken Boom erlebt, doch mit den veränderten makroökonomischen Rahmenbedingungen im Zuge der Pandemie und des Kriegs gegen die Ukraine, insbesondere den steigenden Zinsen und der großen Unsicherheit, dürfte die Zeit...