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We present new empirical evidence on the distribution of earnings, income and wealth among entrepreneurs in Germany. We document that both earnings and income are more concentrated among entrepreneurs than among workers and describe a large-scale overlapping-generations model that can replicate...
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environments characterized by fixed resources, endogenous fertility, and full information. Individuals in our environment are fully … et al. (2007). We also show that efficient allocation in the endogenous fertility case differs significantly from its … exogenous fertility counterpart. In particular, optimal steady state population is proportional to the amount of fixed resources …
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, thus implying lower fertility and higher quality per child. This causes intergenerational persistence in fertility … fertility differentials. Furthermore, we endogenize redistribution by implementing a median voter system. Due to fertility …
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In this paper we investigate the impact of a reduction in the pension replacement rate on the schooling choice and on inequality. We develop an overlapping generations model in which individuals differ by their life expectancy and in the cost of attending schooling. Individuals optimally choose...
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Ýmrohoroðlu, Ýmrohoroðlu and Joines [1995, A life-cycle analysis of Social Security, Economic Theory, vol. 6, 83 …
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