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The Relation between Divorce and Wealth (Dissertation)

The impact of household capital income on income inequality - a factor decomposition analysis for the UK, Germany and the USA

This paper analyses the contribution of capital income to income inequality in a cross-national comparison. Using micro-data from the Cross-National Equivalent File (CNEF) for three prominent panel studies, namely the BHPS for the UK, the SOEP for West Germany, and the PSID for the USA, we use the factor decomposition method described by Shorrocks (Econometrica 50:193–211, 1982). The factor decomposition ...

Verteilungskampf: Warum Deutschland immer ungleicher wird

Der Mindestlohn wird gezielt umgangen

Ungleichheit in Deutschland: Zufrieden und unzufrieden zugleich

Nie waren die Deutschen zufriedener mit ihrem eigenen Leben. Gleichzeitig gibt es eine tiefe Unzufriedenheit mit dem Zustand der Gesellschaft. Das ist kein Widerspruch. Ein Gastbeitrag.

Integrating Refugees: A Long-Term, Worthwhile Investment

The debate about the massive influx of refugees into Germany often focuses solely on the short-term costs. But while these expenditures are bound to be substantial inthe coming years, the discussion neglects the long-term economic potential of a successful integration of refugees—often, young people—which can transform the initial expenditure into a worthwhile investment. Even if many of the refugees’ ...

Tax-Favored Retirement Accounts: Are they Efficient in Increasing Savings and Growth?

The paper aims to assess tax-favored retirement accounts in a general-equilibrium overlapping-generations economy with idiosyncratic income risk and borrowing constraints. Our simulations indicate that tax-favored retirement accounts as implemented in many OECD countries will have a significant impact on savings and transitional capital accumulation. In our most preferred specification, the latter ...

Generational Policy and Aging in Closed and Open Dynamic General Equilibrium Models

This chapter examines the micro- and macroeconomic effects of generational policies using closed and open general equilibrium dynamic life-cycle models. The models illustrate the broad array of demographic, economic, and policy issues that can be simultaneously incorporated within today’s computable models of economic growth. The list includes country-specific tax, spending, social security, healthcare ...

Marital Risk, Family Insurance, and Public Policy

The present paper aims to quantify the growth and welfare consequences of changing family structures in western societies. For this reason we develop a dynamic general equilibrium model with both genders which takes into account changes of the marital status as a stochastic process. Individuals respond to these shocks by adjusting savings and labor supply. Our quantitative results indicate that the ...

Should pensions be progressive? Yes, at least in Germany!

The present paper quantitatively characterizes the consequences of rising pension progressivity in an overlapping generations model with idiosyncratic income, disability and longevity risk as well as endogenous labor supply at the intensive and extensive margin. Focusing on the German pension system which is purely earnings related, we increase the degree of progressivity and compute the optimal mix ...