syndrome. Furthermore, the analysis considers the role of two key economic variables: consumption and leisure via the standard … disposable income and a gain of leisure time - and the psychological (and cultural) notion of the lonely, sad empty nester. This …

such as those around retirement should not affect consumption. However, we first recall that given higher leisure …We revisit the alleged retirement consumption puzzle. According to the life-cycle theory, foreseeable income reductions … endowments after retirement, the theory does predict a fall of total market consumption expenditures. In order not to mistake …

We use the elements of a macroeconomic production function—physical capital, human capital, labor, and technology … development. It affects human capital through both religious and secular education. It affects population and labor by influencing …

, consumption, investment and (un)employment, the reforms were a clear success albeit the impact on the German current account was …. By many, these reforms, especially the Hartz reforms on the labor market, are considered to be the root of observed …

2000s. Our results suggest that an array of struc-tural tax and labor market reforms (Agenda 2010), population aging and … pensionreforms led to an increase in the household savings rate in Germany until about2010. As domestic investment opportunities … suggest that a tight fiscal stance inGermany (combined with an expansionary stance in the rest of the world), under-investment …