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endogenous retirement, economic growth, and social welfare by employing a two-period OLG model. We find that increasing labor …
Persistent link: https://www.econbiz.de/10014257665
children's income during adulthood is an argument of parental utility. Unfunded public pensions can promote growth when … in proportion to labour income. We find that there is no case for unfunded public pensions in economies where bequests …
Persistent link: https://www.econbiz.de/10013320268
that growth can be enhanced by the introduction of pay-as-you-go pensions even if the growth rate of aggregate wages falls …-as-you-go pensions ; social security ; public education ; growth ; majority voting …
Persistent link: https://www.econbiz.de/10003803501
Growing pension savings lead to deeper capital markets. This can have a positive effect on economic growth by allowing firms that are more dependent on external finance to grow faster. We study this effect using data on 69 industrial sectors in 34 OECD countries for the period 2001-2010 through...
Persistent link: https://www.econbiz.de/10013050392
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This paper examine the relation from remittances and trade to economic growth. Study applied time series econometric techniques; unit root, co-integration and error correction mechanism (ECM) to examine long-run and short-run association between dependent and independent variables during the...
Persistent link: https://www.econbiz.de/10012846145
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the potential benefits of mixed systems in which a PAYG system with notional accounts is complemented by a funded pensions … not clearly depend on the relative importance of PAYG over funded pensions systems, suggesting that other factors are even …
Persistent link: https://www.econbiz.de/10012207196