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  • 1
    Monograph available for loan
    Monograph available for loan
    Oxford [u.a.] : Oxford Univ. Press
    Call number: PIK B 100-11-0106
    Description / Table of Contents: Content: Preface ; Intermediate macroeconomics ; 1: Who is who in macroeconomics? ; 2: Dynamics in aggregate demand and supply ; 3: Rational expectations and economic policy ; 4: Anticipation effects and economic policy ; 5: The government budget deficit ; 6: A closer look at the labour market ; 7: Trade unions and the labour market ; 8: Search in the labour market ; 9: Macroeconomic policy, credibility, and politics ; 10: The open economy ; Advanced macroeconomics ; 11: Money ; 12: New Keynesian economics ; 13: Exogenous Economic Growth ; 14: Endogenous Economic Growth ; 15: Real business cycles ; 16: Overlapping generations in continuous time ; 17: Overlapping generations in discrete time ; Epilogue ; Mathematical Appendix
    Type of Medium: Monograph available for loan
    Pages: XXV, 789 S. : graph. Darst.
    Edition: 2. ed.
    ISBN: 9780199210695
    Branch Library: PIK Library
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  • 2
    Monograph available for loan
    Monograph available for loan
    Oxford [u.a.] : Oxford Univ. Press
    Call number: PIK B 100-04-0116
    Type of Medium: Monograph available for loan
    Pages: xxviii, 751 p , 26 cm
    ISBN: 0198776179 , 0-19-877618-7
    Branch Library: PIK Library
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  • 3
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    Copenhagen: University of Copenhagen, Economic Policy Research Unit (EPRU)
    Publication Date: 2018-06-28
    Description: This paper employs an overlapping-generations model to explore the impact of public abatement on private investment and the intergenerational distribution of welfare. Whereas public abatement benefits the oldest generations in terms of non-environmental welfare, future generations gain most in terms of environmental welfare. The overall benefits tend to be smallest for the generations born at the time of the unanticipated policy shock. Public debt policy, however, can be employed to ensure that welfare gains are distributed more equally across the various generations. Such a policy implies that natural capital crowds out man-made capital.
    Keywords: ddc:330
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 4
    Electronic Resource
    Electronic Resource
    Springer
    De economist 143 (1995), S. 217-248 
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary Keynesian demand management offsets some of the distortions caused by monopolistic competition and thus induces multiplier effects on national income and environmental damages. The cost of public funds rises with the virtual environmental tax and the degree of competition in the product market. The virtual environmental tax rises with abatement and falls with the cost of public funds. Consequently, greener preferences induce a rise in the virtual environmental tax, the cost of public funds and public abatement, and a fall in the provision of traditional public goods. A greater preference for traditional public goods harms environmental quality, since both abatement and output fall. Protecting cartels lowers the cost of public funds and may raise the provision of both traditional public goods and abatement. Environmental quality may thus rise, but other components of social welfare will fall. The paper also analyses the effects of private abatement, pollution taxes, fiscal consolidation and the progressivity of the tax system on government policy, employment, environmental quality and welfare.
    Type of Medium: Electronic Resource
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  • 5
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We study the effects of environmental tax policy in a dynamic overlapping generations model of a small open economy with environmental quality incorporated as a durable consumption good. Raising the energy tax may yield an efficiency gain if agents care enough about the environment. The benefits are unevenly distributed across generations since capital ownership, and the capital loss induced by a tax increase, rises with age. A suitable egalitarian bond policy can be employed in order to ensure everybody gains to the same extent. With this additional instrument the optimal energy tax can be computed.
    Type of Medium: Electronic Resource
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  • 6
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    Vienna: Institute for Advanced Studies (IHS)
    Publication Date: 2018-10-26
    Description: We study the environmental and economic effects of public abatement in the presence of multiple stable steady-state ecological equilibria. Under shallow-lake dynamics (SLD), the isocline for the stock of pollution features two stable branches, a good and a bad one. Assuming that the ecology is initially located on the upper (bad) branch of the isocline, the ecological equilibrium is hysteretic and a suitably designed temporary abatement policy can be used to steer the environment from the bad to the good equilibrium. In all models considered in this paper, a cold turkey abatement policy is optimal, i.e. the largest feasible shock should be administered for the shortest possible amount of time. Depending on the particular model used to characterize the economic system, there is a capital feedback effect that either helps or hinders the attainment of a successful abatement policy.
    Keywords: D60 ; E62 ; H23 ; H63 ; Q20 ; Q28 ; Q50 ; ddc:330 ; shallow-lake dynamics ; bifurcation ; environmental policy ; abatement ; overlapping generations
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 7
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    Vienna: Institute for Advanced Studies (IHS)
    Publication Date: 2018-10-26
    Description: We incorporate Keeping-up-with-the-Joneses (KUJ) preferences into the Blanchard-Yaari (BY) framework and develop, using an AK technology, a model of balanced growth. In this context we investigate status preference, demographic, and pension policy shocks. We find that a higher degree of KUJ lowers economic growth, while, in contrast, a decrease in the fertility and mortality rates increase it. In the second part of the paper we extend the model by incorporating a Pay-as-you-go (PAYG) pension system with a statutory retirement date. This introduces a life-cycle in human wealth earnings and implies that the growth rate is higher under PAYG. We also consider the implications of an increase in the retirement date under both defined benefit and defined contribution schemes.
    Keywords: D91 ; E21 ; H55 ; ddc:330 ; relative consumption ; OLG ; endogenous growth ; pension reform ; Gleichgewichtiges Wachstum ; Overlapping Generations ; Gesamtwirtschaftlicher Konsum ; Umlageverfahren ; Alternde Bevölkerung ; Neue Wachstumstheorie ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 8
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    Linz: Johannes Kepler University of Linz, Department of Economics
    Publication Date: 2018-10-26
    Description: Eastern enlargement of the EU promises gains, but also imposes fiscal costs on incumbent countries. A sensitive issue concerns immigration, jobs and wages. We address these issues in a general equilibrium framework, both analytically and through numerical simulations. Analytical results identify capital accumulation as a prime transmission channel. Using a dynamic CGE model with search unemployment of high- and low-skilled labor, we simulate the effects of enlargement on Germany finding small e.ects from trade, but more pronounced labor market e.ects from migration. Based on German model elasticities, we approximate expected benefits and costs for other member countries as well.
    Keywords: C68 ; F13 ; F15 ; ddc:330 ; enlargement ; economic integration ; economic growth ; capital accumulation ; search unemployment ; computable general equilibrium analysis ; EU-Erweiterung ; Internationale Wanderung ; Beschäftigungseffekt ; Allgemeines Gleichgewicht ; Wohlfahrtsanalyse ; Deutschland ; Osteuropa
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 9
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    Vienna: Institute for Advanced Studies (IHS)
    Publication Date: 2018-10-26
    Description: 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.
    Keywords: D52 ; D91 ; E10 ; J20 ; ddc:330 ; longevity risk ; risk sharing ; overlapping generations ; intergenerational transfers ; annuity markets
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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  • 10
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    Vienna: Institute for Advanced Studies (IHS)
    Publication Date: 2018-10-26
    Description: In this paper we consider the implications of relative consumption externalities in the Blanchard-Yaari overlapping generations framework. Unlike most of the macroeconomic literature that studies this question, the differences between agents, and, thus, in their relative position, persist in equilibrium. We show in our fixed employment model that consumption externalities lower consumption and the capital stock in long-run equilibrium, a result in sharp contrast to the recent findings of Liu and Turnovsky (2005). In addition, we solve for the intertemporal path of the economy to investigate its response to demographic shocks, specifically, to permanent changes in the birth and death rates.
    Keywords: D91 ; E21 ; ddc:330 ; relative consumption ; overlapping generations ; demographic shocks ; Konsumentenverhalten ; Konsuminterdependenz ; Bevölkerungsentwicklung ; Schock ; Overlapping Generations ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
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