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This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping generation model with potentially endogenous retirement decisions, the paper shows that the type of aging, i.e. declining...
Persistent link: https://www.econbiz.de/10013009863
This paper analyzes the impact of demographic aging on capital accumulation and welfare in economies with unfunded pensions. Using a two-period overlapping generation model with potentially endogenous retirement decisions, it shows that both the type of aging, i.e. declining fertility or...
Persistent link: https://www.econbiz.de/10012986115
This paper considers the problem of a water management authority faced with the threat of a drought that hits at an uncertain date. Three management policies are investigated: i) a laissez-faire (open-access) policy of automatic adjustment through a zero marginal private net benefit condition,...
Persistent link: https://www.econbiz.de/10012986182
We examine long-run treaties for mitigating climate change. Countries pay an initial fee into a global fund that is invested in long-run assets. In each period, part of the fund is distributed among the participating countries in relation to the emission reductions they have achieved in this...
Persistent link: https://www.econbiz.de/10012958888
revolution and the sustainability of empire come to depend on the capacity of the rebel colony to access international markets …
Persistent link: https://www.econbiz.de/10013104259
We develop a dynamic multi-country trade model with foreign direct investment (FDI) in the form of non-rival technology … actual aggregate cross-section data for 89 countries in 2011 to a hypothetical world without FDI. The gains from FDI amount … to 9% of world's welfare and to 11% of world's trade, unevenly distributed among winners and losers. Net exports of FDI …
Persistent link: https://www.econbiz.de/10012947623
view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to …
Persistent link: https://www.econbiz.de/10012777642
investment data from the owner to the user concept. This unique feature allows the researcher to examine changes in financing of …In this paper we present the Ifo Investment Database, which provides annual investment data for 12 investment assets in … allows allocating investments by asset type to each industry, using an investment flow matrix. The database enables …
Persistent link: https://www.econbiz.de/10013084902
-enhancing investment in relationship-specific assets by signalling creditworthiness and long-term planning horizon of their borrowers. We … empirically confirm this hypothesis by showing that industries dependent on relationship-specific investment from their suppliers …
Persistent link: https://www.econbiz.de/10013093852
banking on carbon emissions, technological progress, and optimal investment decisions is quantified and the incentives that …
Persistent link: https://www.econbiz.de/10013316607