We document the presence of a trade-off between unemployment benefits (UB) and employment protection legislation (EPL) in the provision of insurance against labour market risk. The mix of quantity restrictions and price regulations adopted by the various countries would seem to correspond to a...

We provide a long term perspective on the individual retirement behavior and on the future of early retirement. In a cross-country sample, we find that total pension spending depends positively on the degree of early retirement and on the share of elderly in the population, which increase the...

We document the presence of a trade-off between unemployment benefits (UB) and employment protection legislation (EPL) in the provision of insurance against labor market risk. Different countries' locations along this trade-off represent stable, hard to modify, politico-economic equilibria. We...

El objetivo principal de este artículo es realizar un análisis de los distintos modelos de Estado de Bienestar en Europa. En primer lugar, utilizando una metodología puramente estadística, clasificamos los distintos modelos en función no sólo del grado de generosidad de los distintos...

Existe una duda razonable de que los países de la OCDE puedan seguir pagando pensiones de una cuantía suficiente a los ciudadanos que se jubilen en las próximas décadas. La dinámica demográfica del envejecimiento de la población (con espectaculares aumentos en la esperanza de vida) y la...

The social and economic performances that our societies are experiencing announce a wide set of implications in many areas of our life. Relative ageing and labour market participation of the eldest dynamics evolve along two separated paths: in one way the duration of life is continuously...

This paper uses an overlapping generations model to analyze monetary policy in a two-country model with asymmetric shocks. Agents insure against risk through the exchange of a complete set of real securities. Each central bank is able to commit to the contingent monetary policy rule that...

Countries with low intragenerational redistribution in social security systems (Bismarckian) are associated with larger public pension expenditures, a smaller fraction of private pension and lower income inequality than countries with more redistributive social security (Beveridgean). This paper...

This paper studies an extension of the notion of Pareto eciency, referred to as Millian eciency, to evaluate the performance of symmetric allocations in an overlapping generations setting with endogenous fertility. The criterium of Pareto dominance underlying the notion of Millian eciency is...