This paper investigates the inter-temporal structure of implicit taxes that arise in unfunded pension schemes. We demonstrate that these tax rates are declining over the life cycle. Using German micro-data for men and married women we estimate periodic wage elasticities of labour supply in order...

The upcoming demographic crises in Germany demands fundamental reforms of the pension system. In a democracy, reforms are, however, only feasible when they are supported by the majority of the electorate. To determine whether the majority is in favor of reforms of the pension system, we...

Die Deutschen werden immer älter und haben immer weniger Kinder. Die Verschiebung der Altersverteilung macht es immer schwieriger, die Rentenansprüche zu befriedigen, und sie verringert das Stimmgewicht der Jungen im demokratischen Entscheidungsprozess. Der Artikel zeigt, dass derzeit noch...

We carried out two multinational surveys to analyze aspirations and intentions to emigrate, and how these are linked to each other. One survey covered language course participants in 14 countries, and another students in 6 countries. We identify two groups that have been largely neglected in...

This study provides the first attempt to evaluate whether a logit early warning system (EWS) for systemic banking crises can produce better predictions when political indicators are used alongside traditional macro-financial indicators. Based on a dataset covering 32 advanced economies for the...