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Ageing and Growth in the Small Open Economy

Heijdra, Ben J.; Romp, Ward E. - CESifo - 2006

We construct an overlapping generations model for the small open economy whichincorporates a realistic description of the mortality process. Agents engage in educational activities at the start of life and thus create human capital to be used later on in life for production purposes. Depending...

Persistent link: https://www.econbiz.de/10005094204

Retirement, Pensions, and Ageing

Heijdra, Ben J.; Romp, Ward E. - CESifo - 2007

We study the effects of demographic shocks and changes in the pension system on the macroeconomic performance of an advanced small open economy. An overlapping-generations model is constructed which includes a realistic description of the mortality process. Individual agents choose their optimal...

Persistent link: https://www.econbiz.de/10005094360

The Politics of Pension Reform under Ageing

Leers, Theo; Meijdam, Lex; Verbon, Harrie A. A - CESifo - 2001

In this paper we address the question whether in case of population ageing a transition from an unfunded to a more …

Persistent link: https://www.econbiz.de/10005181653

How Sustainable Are Old-age Pensions in a Shrinking Population with Endogenous Labour Supply?

Cardoso, Pedro; Praag, Bernard M.S. van - CESifo - 2003

In this paper we model an OLG-economy where labour supply is endogenously determined and where we assume that there are two pension systems, namely, a pay-as-you-go system and a funded system. The main question is whether there is an equilibrium involving an old-age pensions system, partly...

Persistent link: https://www.econbiz.de/10005405810

Pensions and Fertility Incentives

Fenge, Robert; Meier, Volker - CESifo - 2003

fertility setting. In the model of a small open economy, higher fertility is associated with a reduction of lifetime labor … supply. The optimum share of fertility-related pensions is always below unity, but generally positive. The former is true … demonstrated that child allowances are equivalent to fertility-related pensions as instruments to achieve an efficient allocation. …

Persistent link: https://www.econbiz.de/10005406380

Pension, Fertility, and Education

Meier, Volker; Wrede, Matthias - CESifo - 2005

human capital. In a framework with heterogeneity in productivity, and stochastic and endogenous investment in fertility and … displays both a benefit contingent on the contributions of children and a purely fertility-related component. …

Persistent link: https://www.econbiz.de/10005766193

Earlier or Later: A General Equilibrium Analysis of Bringing Forward an Already Announced Tax Reform

Honerkamp, Josef; Moog, Stefan; Raffelhüschen, Bernd - CESifo - 2004

The German Income Tax Reform 2000, which announced a reduction in income tax rates to be implemented in a series of three stages, was welcomed by the public as a step towards unleashing lurking growth potentials. Nonetheless, in the course of the year 2001 a dispute arose, centering around the...

Persistent link: https://www.econbiz.de/10005405729

Trade Union Objectives and Economic Growth

Irmen, Andreas; Wigger, Berthold U. - CESifo - 2001

A trade union whose purpose is to raise wages above the competitive level may foster economic growth if it succeeds in shifting income away from the owners of capital to the workers and if the workers' marginal propensity to save exceeds the one of capitalists. We make this point in an...

Persistent link: https://www.econbiz.de/10005406167

The Evolution of Public Spending on Higher Education in a Democracy

Haupt, Alexander - CESifo - 2005

This paper analyses political forces that cause an initial expansion of public spending on higher education and an ensuing decline in subsidies. Growing public expenditures increase the future size of the higher income class and thus boost future demand for education. This demand shift implies...

Persistent link: https://www.econbiz.de/10005406330

Climate Policy Enhances Efficiency: A Macroeconomic Portfolio Effect

Siegmeier, Jan; Mattauch, Linus; Edenhofer, Ottmar - CESifo - 2015

Carbon pricing regulates emission flows and collects rents from underlying fossil resource stocks. The resulting investment shift implies lower climate policy costs and improved welfare if capital is underaccumulated. We prove that under emission trading, such a beneficial macroeconomic...

Persistent link: https://www.econbiz.de/10011122684

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