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Pensions, Debt and Inflation Risk in a Monetary Union

Adema, Yvonne - 2010

This paper investigates the international spillovers of government debt and the associated risk of inflation within a … inflation at the cost of the funded country. In response to these conflicting interests about inflation, inflation risk may rise … with the level of debt in the PAYG country. Higher inflation risk harms both countries. Actually, in contrast to the debt …

Persistent link: https://www.econbiz.de/10010326045

Inflation and welfare in an OLG economy with a privately provided public good

Bloise, Gaetano; Currarini, Sergio; Kikidis, Nicholas - 2001

agents voluntarily contribute to a public good. Inflation has two effects at equilibrium: it increases voluntary … too large" inflation rates. Moreover, there exists an optimal inflation rate. …

Persistent link: https://www.econbiz.de/10011608774

Pollution, Health and Life Expectancy: How Environmental Policy Can Promote Growth

Pautrel, Xavier - 2007

This article investigates the influence of environmental policy on growth assuming that the channel of transmission relies on the link between pollution, health and the survival probability, in an overlapping generations model à la Blanchard (1985) where growth is driven by a mechanism à la...

Persistent link: https://www.econbiz.de/10010312526

Trading off generations: Infinitely-lived agent versus OLG

Schneider, Maik T.; Traeger, Christian; Winkler, Ralph - 2010

The prevailing literature discusses intergenerational trade-offs predominantly in infinitely-lived agent models despite the finite lifetime of individuals. We discuss these trade-offs in a continuous time OLG framework and relate the results to the infinitely-lived agent setting. We identify...

Persistent link: https://www.econbiz.de/10010316064

The evolution of public spending on higher education in a democracy

Haupt, Alexander - 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/10010261394

Fiscal policy, monopolistic competition, and finite lives

Heijdra, Ben J.; Ligthart, Jenny E. - 2006

The paper studies the short-run, transitional, and long-run output effects of permanent and temporary shocks in public consumption under various financing methods. To this end, a dynamic macroeconomic model for a closed economy is developed, which features a perfectly competitive final goods...

Persistent link: https://www.econbiz.de/10010261412

Probabilistic aging

Grafenhofer, Dominik; Jaag, Christian; Keuschnigg, Christian - 2006

The paper develops an overlapping generations model with probabilistic aging of households. We define age as a set of personal attributes such as earnings potential, health and tastes that are characteristic of a person's position in the life-cycle. In assuming a limited number of different...

Persistent link: https://www.econbiz.de/10010261425

The Economics of Human Cloning

Saint-Paul, Gilles - 2000

In this paper, we analyze the extent to which market forces create an incentive for cloning human beings. We show that a market for cloning arises if a large enough fraction of the clone?s income can be appropriated by its model. Only people with the highest ability are cloned, while people at...

Persistent link: https://www.econbiz.de/10010262438

Dynamic Fiscal Policies, Unemployment, and Economic Growth

Josten, Stefan Dietrich - 2003

This paper analyzes the growth and employment effects of dynamic fiscal policies in an overlapping generations model with endogenous growth and imperfect labour markets. With balanced-budget policies, the modelled closed economy grows at a constant rate which is the higher, the lower are the...

Persistent link: https://www.econbiz.de/10010263397

On the modeling of the income distribution business cycle dynamics

Heer, Burkhard - 2007

Empirically, the income share is procyclical for the low-income groups and acyclical for the top 5%. We find that business cycle models should consider overlapping generations and elastic labor supply in order to replicate this finding.

Persistent link: https://www.econbiz.de/10010264090