The Netherlands will be confronted with an almost doubling of the old-age dependency ratio over the next forty years. The costs of the ageing population are primarily reflected in larger expenditures on pensions and health care. This paper explores the consequences of ageing in a baseline...

This paper investigates the age-dependency of participation and unemployment by integrating job search with intertemporal optimizing behavior of finitely-lived households. We find that search frictions and tax rates distort the decisions of older workers to a much larger extent than that of...

This paper investigates the age-dependency of participation andunemployment by integrating job search with intertemporal optimizing behaviorof finitely-lived households. We find that search frictions and tax ratesdistort the decisions of older workers to a much larger extent than that ofyoung...

We analyse the effects of financial shocks on economic development in the euro area and the Netherlands in particular. We develop VAR models that take account of feedback loops between financial-market conditions and the real economy. These feedback loops operate via the aggregated euro-area...

When a monopolist has discretion over the timing of infrastructure investments, regulation of post-investment prices interferes with incentivizing socially optimal investment timing. In a model of regulated lumpy investment under uncertainty, we study regulation when the regulator can condition...