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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 … Income Tax Reform should be brought forward. The present paper assesses the welfare and macroeconomic consequences of the … German Income Tax Reform in the scope of a simplified DGE model of the Auerbach-Kotlikoff type and deals explicitly with the …

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

Trade Union Objectives and Economic Growth

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

shifting income away from the owners of capital to the workers and if the workers' marginal propensity to save exceeds the one … technology so that the union's policy spurs per capita income growth and increases welfare of all generations that adhere to the …

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

The Evolution of Public Spending on Higher Education in a Democracy

Haupt, Alexander - CESifo - 2005

ensuing decline in subsidies. Growing public expenditures increase the future size of the higher income class and thus boost … participation rate of the children of lower income families, that went up in the expansion period, declines over time, both in … absolute terms and relative to the rate of their counterparts from higher income households. …

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

Superneutrality of Money under Open Market Operations

Homburg, Stefan - CESifo - 2015

Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open market...

Persistent link: https://www.econbiz.de/10011185625

Aging, the Great Moderation and Business-Cycle Volatility in a Life-Cycle Model

Heer, Burkhard; Rohrbacher, Stefan; Scharrer, Christian - CESifo - 2014

According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to the conclusion that demographic change induces a drop in output volatility. We present an overlapping generations model that replicates the empirically observed pattern and...

Persistent link: https://www.econbiz.de/10010735186

Stimulating Annuity Markets

Heijdra, Ben J.; Mierau, Jochen O.; Trimborn, Timo - CESifo - 2014

We study the short-, medium-, and long-run implications of stimulating annuity markets in a dynamic general-equilibrium overlapping-generations model. We find that beneficial partial-equilibrium effects of stimulating annuity markets are counteracted by negative general-equilibrium...

Persistent link: https://www.econbiz.de/10010781542

Transfers within a three Generations Family: When the Rotten Kids Turn into Altruistic Parents

Cremer, Helmuth; Roeder, Kerstin - CESifo - 2014

We study exchanges between three overlapping generations with non-dynastic altruism. The middleaged choose informal care provided to their parents and education expenditures for their children. The young enjoy their education, while the old may leave a bequest to their children. Within each...

Persistent link: https://www.econbiz.de/10010790169

Low Altruism, Austerity, and Aversion to Default: Are Countries Converging to the Natural Debt Limit?

Bohn, Henning - CESifo - 2013

Democracies around the world are making promises to the old at the expense of future generations. I interpret this as reflecting low altruism—a discount rate on children’s utility greater than the world interest rate—and I examine the implications in a small open economy with overlapping...

Persistent link: https://www.econbiz.de/10010877813

Provision of a Public Good with Altruistic Overlapping Generations and Many Tribes

Karp, Larry S. - CESifo - 2012

Intergenerational altruism and contemporaneous cooperation are both important to the provision of long-lived public goods. Equilibrium climate protection may depend more sensitively on either of these considerations, depending on the type of policy rule one examines. This conclusion is based on...

Persistent link: https://www.econbiz.de/10010877869