Showing 1 - 10 of 399
Analyzing a variety of cross-national and sub-national data, we argue that high adult mortality reduces economic growth … by shortening time horizons. Higher adult mortality is associated with increased levels of risky behaviour, higher … fertility, and lower investment in physical and human capital. Furthermore, the feedback effect from economic prosperity to …
Persistent link: https://www.econbiz.de/10005504520
Societies socialize children about sex. This is done in the presence of peer-group effects, which may encourage undesirable behavior. Parents want the best for their children. Still, they weigh the marginal gains from socializing their children against its costs. Churches and states may...
Persistent link: https://www.econbiz.de/10009371463
Two key issues are examined in an integrated framework: the emergence of global imbalances and the precautionary motive for accumulating reserves. Standard models of general equilibrium would predict modest current account surpluses in the emerging markets if they face higher risk than the US...
Persistent link: https://www.econbiz.de/10005136702
survey data, we assess six possible explanations for this upsurge in mortality. Most find little support in the data: the … mortality rates. The two factors that do appear to be important are alcohol consumption, especially as it relates to external …
Persistent link: https://www.econbiz.de/10005504626
This article challenges conventional wisdom by arguing that greater longevity cannot explain the significant accumulation of human capital during the transition from stagnation to growth. This is because greater longevity raises children’s future income proportionally at all levels of...
Persistent link: https://www.econbiz.de/10005666793
here empirically the link between fertility and financial incentives by estimating and simulating a joint structural model … of participation and fertility on a sample of French women. Our results suggest that fertility responds to incentives in …
Persistent link: https://www.econbiz.de/10005789152
We investigate intergenerational risk sharing in two-pillar pension systems with a pay-as-you-go pillar and a funded pillar. We consider shocks in productivity, depreciation of capital and inflation. The funded pension pillar can be either defined contribution or defined benefit, with benefits...
Persistent link: https://www.econbiz.de/10005497820
of the next century the ratio of people of working age to those of retirement age will, in many countries, be only around …
Persistent link: https://www.econbiz.de/10005656147
In this paper we perform simulations with a stylized model of Germany and the United Kingdom to show which generations might be direct gainers, and which losers, from a transition to funded state pensions. We estimate what the structure of inter-generational bequests would need to be in a...
Persistent link: https://www.econbiz.de/10005656405
In an overlapping generations model, rents to human capital play a key role in increasing savings. In the absence of such rents, the return to human capital is entirely appropriated by the old and accumulation is entirely determined by the income to fixed factors. If rents are introduced by...
Persistent link: https://www.econbiz.de/10005662008