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Demange, Gabrielle - C.E.P.R. Discussion Papers - 2005

An unfunded Social Security system faces a major risk, sometimes referred to as ‘political risk’. In order to account properly for this risk, the paper considers a political process in which the support to the system is asked from each newborn generation. The analysis is conducted in an...

Persistent link: https://www.econbiz.de/10005666926

A Quantative Analysis of Swedish Fertility Dynamics: 1751-1990

Eckstein, Zvi; Mira, Pedro Solbes; Wolpin, Kenneth - C.E.P.R. Discussion Papers - 1998

This paper analyses the relationship between age-specific fertility, mortality and real wages in Sweden during the … demographic transition. We take an overlapping generation’s model of life cycle fertility and fit it to actual Swedish time …-series data over the past two and a half centuries. The model fits the data well, accurately portraying the total fertility …

Persistent link: https://www.econbiz.de/10005136659

Who Owns Children and Does it Matter?

Schoonbroodt, Alice; Tertilt, Michèle - C.E.P.R. Discussion Papers - 2010

failure that may lead to inefficiently low equilibrium fertility and therefore to a need for government intervention. The …) model with fertility choice and altruism, and model ownership by introducing a minimum constraint on transfers from parents … transfer floor is binding, fertility choices are inefficient. We show how this inefficiency relates to dynamic inefficiency in …

Persistent link: https://www.econbiz.de/10008468613

Political Institutions and Economic Growth

Marsiliani, Laura; Renström, Thomas I - C.E.P.R. Discussion Papers - 2007

We analyze the impact of micro-founded political institutions on economic growth in an overlapping-generations economy, where individuals differ in preferences over a public good (as well as in age). Labour and capital taxes finance the public good and a public input. The benchmark institution...

Persistent link: https://www.econbiz.de/10005504348

Maximum Sustainable Government Debt in the Overlapping Generations Model

Rankin, Neil; Roffia, Barbara - C.E.P.R. Discussion Papers - 1999

The theoretical determinants of maximum sustainable government debt are investigated using Diamond's overlapping-generations model. A level of debt is defined to be 'sustainable' if a steady state with non-degenerate values of economic variables exists. We show that a maximum sustainable level...

Persistent link: https://www.econbiz.de/10005504759

Pension systems, Intergenerational Risk Sharing and Inflation

Beetsma, Roel; Bovenberg, A Lans - C.E.P.R. Discussion Papers - 2007

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

Housing Market Dynamics: On the Contribution of Income Shocks and Credit Constraints

Ortalo-Magné, François; Rady, Sven - C.E.P.R. Discussion Papers - 2001

This Paper presents a dynamic theory of housing market fluctuations. It develops a life-cycle model where households …

Persistent link: https://www.econbiz.de/10005498172

Modelling the Impact of Demographic Change Upon the Economy

Miles, David K - C.E.P.R. Discussion Papers - 1997

models are likely to provide the most reliable evidence. A model is developed and used to assess how ageing will affect the …

Persistent link: https://www.econbiz.de/10005656147

The Reform of Pension Systems: Winners and Losers Across Generations

Iben, Andreas; Miles, David K - C.E.P.R. Discussion Papers - 1998

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

The Role of Rents to Human Capital in Economic Development

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 1994

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