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  1. Socioeconomic conditions in childhood and mental health later in life
    Erschienen: 2021
    Verlag:  Global Labor Organization (GLO), Essen

    This chapter provides a narrative review of the literature relating socioeconomic circumstances early in life to mental health and well-being later in life. It starts by highlighting the various contributions focusing on associations, then moves on... mehr

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    DS 565
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    This chapter provides a narrative review of the literature relating socioeconomic circumstances early in life to mental health and well-being later in life. It starts by highlighting the various contributions focusing on associations, then moves on to the literature attempting to identify causal effects before discussing the potential mechanisms at play. The chapter closes with a view toward research questions that may inform a future research agenda and highlights some anchors for policy.

     

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    Sprache: Englisch
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    Format: Online
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    hdl: 10419/233998
    Schriftenreihe: GLO discussion paper ; no. 844
    Umfang: 1 Online-Ressource (circa 28 Seiten), Illustrationen
  2. The macroeconomic effects of longevity risk under private and public insurance and asymmetric information
    Erschienen: November 2017
    Verlag:  CESifo, Center for Economic Studies & Ifo Institute, Munich

    We study the impact of a fully-funded social security system in an economy with heterogeneous consumers. The unobservability of individual health conditions leads to adverse selection in the private annuity market. Introducing social security - which... mehr

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    We study the impact of a fully-funded social security system in an economy with heterogeneous consumers. The unobservability of individual health conditions leads to adverse selection in the private annuity market. Introducing social security - which is immune to adverse selection - affects capital accumulation and individual welfare depending on its size and on the pension benefit rule that is adopted. If this rule incorporates some implicit or explicit redistribution from healthy to unhealthy individuals then the latter types are better off as a result of the pension system. In the absence of redistribution the public pension system makes everybody worse off in the long run. Though attractive to distant generations, privatization of social security is not generally Pareto improving to all generations.

     

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/173043
    Schriftenreihe: Array ; no. 6767
    Umfang: 1 Online-Ressource (circa 52 Seiten), Illustrationen
  3. Do budgetary institutions mitigate the common pool problem?
    new empirical evidence for the EU /
    Erschienen: 2012
    Verlag:  KOF, Zürich

    We analyze how budgetary institutions affect government budget deficits in member states of the European Union during 1984-2003 employing new indicators provided by Hallerberg et al. (2009). Using panel fixed effects models, we examine whether the... mehr

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    We analyze how budgetary institutions affect government budget deficits in member states of the European Union during 1984-2003 employing new indicators provided by Hallerberg et al. (2009). Using panel fixed effects models, we examine whether the impact of budgetary institutions on budget deficits is conditioned by political fragmentation (i.e., ideological differences among parties in government) and size fragmentation (i.e., the effective number of parties in government or the number of spending ministers). Our results suggest that strong budgetary institutions, no matter whether they are based on delegation to a strong minister of finance or on fiscal contracts, reduce the deficit bias in case of strong ideological fragmentation. In contrast, the impact of budgetary institutions is not conditioned by size fragmentation. -- budgetary institutions ; fiscal policy ; political fragmentation ; size fragmentation

     

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    Sprache: Englisch
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    hdl: 10419/80820
    Auflage/Ausgabe: Accepted version, May 2012
    Schriftenreihe: KOF working papers / KOF Swiss Economic Institute, ETH Zurich ; 303
    Schlagworte: Haushaltsdefizit; Finanzpolitik; Politisches System; Systemvergleich; EU-Staaten
    Umfang: Online-Ressource (PDF-Datei: 25 S., 341,30 KB), graph. Darst.
  4. No country for old men
    aging dictators and economic growth
    Erschienen: 2011
    Verlag:  KOF, Zürich

    This paper develops a model of the relationship between the age of a dictator and economic growth. In the model a dictator must spread the resources of the economy over his reign but faces mortality and political risk. The model shows that if the... mehr

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    This paper develops a model of the relationship between the age of a dictator and economic growth. In the model a dictator must spread the resources of the economy over his reign but faces mortality and political risk. The model shows that if the time horizon of the dictator decreases, either due to an increase of mortality risk or political risk, the economic growth rate decreases. The model predictions are supported by empirical evidence based on a threeway fixed effects model including country, year and dictator fixed effects for a sample of dictators from 116 countries. These results are robust to sample selection, the tenure of dictators, the definition of dictatorship, and a broad set of economic growth determinants. -- Aging ; economic growth ; government performance ; political instability ; political leaders

     

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    Weitere Identifier:
    hdl: 10419/54717
    Auflage/Ausgabe: Draft: 7 October, 2011
    Schriftenreihe: KOF working papers / KOF Swiss Economic Institute, ETH Zurich ; 289
    Schlagworte: Diktatur; Staatsoberhaupt; Sterblichkeit; Wirtschaftswachstum; Politische Instabilität; Systemvergleich; Welt
    Umfang: Online-Ressource (PDF-Datei: 33 S., 292,73 KB), graph. Darst.
  5. The tragedy of annuitization
    Erschienen: 2010
    Verlag:  CESifo, München

    We construct a tractable discrete-time overlapping generations model of a closed economy and use it to study government redistribution of accidental bequests and private annuities in general equilibrium. Individuals face longevity risk as there is a... mehr

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    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    We construct a tractable discrete-time overlapping generations model of a closed economy and use it to study government redistribution of accidental bequests and private annuities in general equilibrium. Individuals face longevity risk as there is a positive probability of passing away before the retirement period. We find non-pathological cases where it is better for long-run welfare to waste accidental bequests than to give them to the elderly. Next we study the introduction of a perfectly competitive life insurance market offering actuarially fair annuities. There exists a tragedy of annuitization: although full annuitization of assets is privately optimal it is not socially beneficial due to adverse general equilibrium repercussions. -- longevity risk ; risk sharing ; overlapping generations ; intergenerational transfers ; annuity markets

     

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/39053
    RVK Klassifikation: QB 910
    Schriftenreihe: Array ; 3141
    Schlagworte: Lebensversicherung; Private Altersvorsorge; Gesetzliche Rentenversicherung; Sterblichkeit; Risikomodell; Intergenerationale Übertragung; Overlapping Generations; Versicherungsökonomik; Allgemeines Gleichgewicht; Soziale Wohlfahrtsfunktion; Wohlfahrtsanalyse; Theorie
    Umfang: Online-Ressource (46 S.), graph. Darst.
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    Parallel als Druckausg. erschienen

  6. No country for old men
    aging dictators and economic growth
    Erschienen: 2011
    Verlag:  Univ. of Cambridge, Dep. of Applied Economics, Faculty of Economics, Cambridge

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    VS 123 (2011,58)
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    Sprache: Englisch
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    Weitere Identifier:
    hdl: 1810/242031
    Schriftenreihe: Cambridge working papers in economics ; 1158
    Schlagworte: Diktatur; Staatsoberhaupt; Sterblichkeit; Wirtschaftswachstum; Politische Instabilität; Systemvergleich; Welt
    Umfang: Online-Ressource (PDF-Datei: 33 S., 392,06 KB), graph. Darst.
  7. Fiscal rules and government size in the European Union
    Erschienen: 2014
    Verlag:  CESifo, München

    This paper studies the impact of national fiscal rules on government size as measured by the ratio of government expenditures to gross domestic product. We develop a model of the budgetary process and show that a common pool problem may arise which... mehr

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    DS 63 (4693)
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    This paper studies the impact of national fiscal rules on government size as measured by the ratio of government expenditures to gross domestic product. We develop a model of the budgetary process and show that a common pool problem may arise which can be mitigated through fiscal rules. We test the model's predictions using a novel time-series cross-section dataset of 27 European Union members for the period between 1990 and 2011. Corroborating the model, we find that fiscal rules have a negative impact on government size. Contrasting the model, their impact becomes smaller as the number of ministers increases.

     

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    hdl: 10419/96850
    Schriftenreihe: Array ; 4693
    Umfang: Online-Ressource (30 S.), graph. Darst.
  8. Stimulating annuity markets
    Erschienen: 2014
    Verlag:  CESifo, München

    We study the short-, medium-, and long-run implications of stimulating annuity markets in a dynamic general-equilibrium overlapping-generations model. We find that beneficial partial-equilibrium effects of stimulating annuity markets are counteracted... mehr

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    We study the short-, medium-, and long-run implications of stimulating annuity markets in a dynamic general-equilibrium overlapping-generations model. We find that beneficial partial-equilibrium effects of stimulating annuity markets are counteracted by negative general-equilibrium repercussions. Balancing the positive partial-equilibrium and negative general-equilibrium forces we show that there exists some intermediate level of annuitization such that long-run welfare is maximized. Studying the transition to the optimal degree of annuitization shows that currently middle-aged individuals stand to gain most from the stimulation of annuity markets.

     

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    hdl: 10419/102243
    Schriftenreihe: Array ; 4827
    Umfang: Online-Ressource ([1], 31 S.), graph. Darst.
  9. Annuity market imperfection, retirement and economic growth
    Erschienen: 2009
    Verlag:  CESifo, München

    We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities by... mehr

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    We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities by introducing a load factor on the interest rate faced by finitely-lived agents. Our core model features age-independent wages and a constant mortality rate. In the first extension we study the implications for microeconomic decisions and macroeconomic outcomes of a hump-shaped life-cycle profile in labour productivity, whilst in the second extension we postulate a realistic mortality process. Our main findings are that the limited availability of annuities induces agents to retire early in the first two models, but later in the model with age-dependent mortality. In all cases, the general equilibrium repercussion is that economic growth is lower under imperfect annuities than with perfect annuities. -- annuity markets ; retirement ; endogenous growth ; overlapping generations ; demography

     

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    Sprache: Englisch
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    Format: Online
    Weitere Identifier:
    hdl: 10419/30588
    Schriftenreihe: Array ; 2717
    Schlagworte: Private Altersvorsorge; Unvollkommener Markt; Altersgrenze; Arbeitsangebot; Endogenes Wachstumsmodell; Overlapping Generations; Arbeitsproduktivität; Bevölkerungsökonomik; Theorie
    Umfang: Online-Ressource ( 41 S.), graph. Darst.
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    Parallel als Druckausg. erschienen

  10. The tragedy of annuitization
    Erschienen: 2011
    Verlag:  IHS, Wien

    We construct a tractable discrete-time overlapping generations model of a closed economy and use it to study government redistribution of accidental bequests and private annuities in general equilibrium. Individuals face longevity risk as there is a... mehr

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    DS 387 (268)
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    We construct a tractable discrete-time overlapping generations model of a closed economy and use it to study government redistribution of accidental bequests and private annuities in general equilibrium. Individuals face longevity risk as there is a positive probability of passing away before the retirement period. We find non-pathological cases where it is better for long-run welfare to waste accidental bequests than to give them to the elderly. Next we study the introduction of a perfectly competitive life insurance market offering actuarially fair annuities. There exists a tragedy of annuitization: although full annuitization of assets is privately optimal it is not socially beneficial due to adverse general equilibrium repercussions. -- longevity risk ; risk sharing ; overlapping generations ; intergenerational transfers ; annuity markets

     

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    Weitere Identifier:
    hdl: 10419/68515
    Schriftenreihe: Reihe Ökonomie / Institut für Höhere Studien ; 268
    Schlagworte: Lebensversicherung; Private Altersvorsorge; Gesetzliche Rentenversicherung; Sterblichkeit; Risikomodell; Intergenerationale Übertragung; Overlapping Generations; Versicherungsökonomik; Allgemeines Gleichgewicht; Soziale Wohlfahrtsfunktion; Wohlfahrtsanalyse; Theorie
    Umfang: Online-Ressource, graph. Darst.
  11. The tragedy of annuitization
    Erschienen: 2011
    Verlag:  Inst. für Höhere Studien (IHS), Wien

    We construct a tractable discrete-time overlapping generations model of a closed economy and use it to study government redistribution of accidental bequests and private annuities in general equilibrium. Individuals face longevity risk as there is a... mehr

    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    W 1312 (268)
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    We construct a tractable discrete-time overlapping generations model of a closed economy and use it to study government redistribution of accidental bequests and private annuities in general equilibrium. Individuals face longevity risk as there is a positive probability of passing away before the retirement period. We find non-pathological cases where it is better for long-run welfare to waste accidental bequests than to give them to the elderly. Next we study the introduction of a perfectly competitive life insurance market offering actuarially fair annuities. There exists a tragedy of annuitization: although full annuitization of assets is privately optimal it is not socially beneficial due to adverse general equilibrium repercussions. -- longevity risk ; risk sharing ; overlapping generations ; intergenerational transfers ; annuity markets

     

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    Schriftenreihe: Reihe Ökonomie ; 268
    Schlagworte: Lebensversicherung; Private Altersvorsorge; Gesetzliche Rentenversicherung; Sterblichkeit; Risikomodell; Intergenerationale Übertragung; Overlapping Generations; Versicherungsökonomik; Allgemeines Gleichgewicht; Soziale Wohlfahrtsfunktion; Wohlfahrtsanalyse; Theorie
    Umfang: 45 S., graph. Darst., 30 cm
  12. Inequality in an equal society
    theory and evidence
    Erschienen: 2015
    Verlag:  Univ. of Leicester, Dep. of Economics, Leicester

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    Schriftenreihe: Working paper / University of Leicester, Department of Economics ; 15/23
    Schlagworte: Einkommensverteilung; Soziale Ungleichheit; Sozialer Indikator; Gini-Koeffizient; USA
    Umfang: Online-Ressource (30 S.), Ill., graph. Darst.
  13. Economic conditions at birth and cardiovascular disease risk in adulthood
    evidence from new cohorts
    Erschienen: May 2017
    Verlag:  IZA, Bonn, Germany

    Most of the literature that exploits business cycle variation at birth to study long-run effects of economic conditions on health later in life is based on pre-1940 birth cohorts. They were born in times where social safety nets were largely absent... mehr

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    DS 4 (10810)
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    Most of the literature that exploits business cycle variation at birth to study long-run effects of economic conditions on health later in life is based on pre-1940 birth cohorts. They were born in times where social safety nets were largely absent and they grew up in societies with relatively low female labor force participation. We complement the evidence from this literature by exploiting post-1950 regional business cycle variations in the Netherlands to study effects on cardiovascular disease (CVD) risk in adulthood, by gender. We operationalize CVD risk by constructing the Systematic COronary Risk Evaluation (SCORE) index from an extensive set of biomarkers. The data are from a large cohort study covering socio-economic, biological and health data from over 75k individuals aged between 18 and 63. We conclude that women born in adverse economic conditions experience higher CVD risk.

     

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    Weitere Identifier:
    hdl: 10419/170794
    Schriftenreihe: Discussion paper / IZA ; no. 10810
    Umfang: 1 Online-Ressource (circa 24 Seiten), Illustrationen