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COVID-19 : Mitigation Measures and the Aftershock in an Overlapping Generations Model

Bairoliya, Neha; Imrohoroglu, Ayse - 2020

lifted, individuals respond to the continued infection risk by lowering their labor supply, resulting in a slower economic … the lingering infection risk. While the vulnerable wealth rich can be convinced to stay home by transfers equalling 10% of … working age individuals who are at risk of infections can be convinced to self-isolate at a cost of 0.43% of GDP, once the …

Persistent link: https://www.econbiz.de/10014090524

Present-biased envy, inequality, and growth

Borissov, Kirill; Pakhnin, Mikhail; Wendner, Ronald - 2024

We take into account that envy (relative consumption concerns) is more pronounced in the present than in the future. We consider a Ramsey-type model in which agents differ only in their initial capital endowments but are identical in their exogenous parameters. Agents' preferences exhibit...

Persistent link: https://www.econbiz.de/10014528209

The ethics of intergenerational risk

Piacquadio, Paolo G. - 2015 - This version August 7, 2015

The paper reexamines the ethics of intergenerational risk. When risk re-solves gradually, earlier decisions cannot …, the intensity of risk, and the way risk resolves over time. The characterized class of reference-dependent utilitarian … welfare criteria: (i) disentangle aversion to intergenerational inequality from aversion to risk; (ii) value an early …

Persistent link: https://www.econbiz.de/10011333646

Intergenerational transfers, lifetime welfare and resource preservation

Valente, Simone - 2006

This paper analyzes overlapping-generations models where natural capital is owned by selfish agents. Transfers in favor of young agents reduce the rate of depletion and increase output growth. It is shown that intergenerational transfers may be preferred to laissez-faire by an indefinite...

Persistent link: https://www.econbiz.de/10003459197

Human capital, resource constraints and intergenerational fairness

Valente, Simone - 2007

This paper studies an endogenous growth model with human capital, exhaustible resources, and overlapping generations. Under laissez-faire, higher study time reduces depletion rates by increasing the share of re- sources that present generations are willing to sell to successors. However, selfish...

Persistent link: https://www.econbiz.de/10003761243

A Probabilistic Voting Model of Social Security with Myopic Agents

Wen, Xue - 2015

This paper investigates the political incentives for the design of a Pay-as-you-go public pension system in a probabilistic voting model with both far-sighted and myopic agents. People vote for a payroll tax rate determining the size of the pension system and a Bismarckian factor representing...

Persistent link: https://www.econbiz.de/10013010982

Indeterminacy, Intergenerational Redistribution, Endogenous Longevity and Human Capital Accumulation

Cipriani, Giam - 2014

This paper sets up an OLG economy with endogenous life expectancy to study how fiscal policy that redistributes between generations can open the door to sunspot equilibria. Agents invest independently in their own human capital, produce and consume output, and receive a pension upon retirement....

Persistent link: https://www.econbiz.de/10013059893

Ageing, Funded Pensions and the Dutch Economy

Bovenberg, A. Lans; Knaap, Thijs - 2021

This paper attempts to paint a coherent picture of the effects of ageing on a small, open, economy with large pension funds in different institutional settings. Quantitative scenarios are projected with an applied computable general equilibrium model with institutional details. We find that...

Persistent link: https://www.econbiz.de/10013318726

Stabilizing Competitive Cycles with Distortionary Taxation

Koskela, Erkki; Puhakka, Mikko - 2021

We utilize a simple overlapping generations model with a balanced budget rule to study the effect of distortionary taxation on cycles and local stability of equilibria. We show that under proportional taxation there is a critical tax rate above which cycles will vanish, while in the case of...

Persistent link: https://www.econbiz.de/10013319917

Existence, Multiplicity and Dynamic Complexity in an OLG Model with Fiscal Policy and Debt

Baiardi, Lorenzo Cerboni; Naimzada, Ahmad - 2018

We consider the overlapping generation model formulated in Dioikitopoulos (2018) that tackles the problem of fiscal policy rules for debt sustainability, allowing for the presence of debt bubbles. The author gives conditions for sustainability achievement in terms of debt and capital control...

Persistent link: https://www.econbiz.de/10012913812