Auflistung nach Autor "Ludwig, Alexander"
Anzeige der Dokumente 1-14 von 14
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A Life-Cycle Model with Ambiguous Survival Beliefs
Groneck, Max; Ludwig, Alexander; Zimper, Alexander (2015-10-02)Based on a cognitive notion of neo-additive capacities reflecting likelihood insensitivity with respect to survival chances, we construct a Choquet Bayesian learning model over the life-cycle that generates a motivational ... -
Aging and Pension Reform: Extending the Retirement Age and Human Capital Formation
Vogel, Edgar; Ludwig, Alexander; Börsch-Supan, Axel (2014-12-29)Projected demographic changes in industrialized and developing countries vary in extent and timing but will reduce the share of the population in working age everywhere. Conventional wisdom suggests that this will increase ... -
Cognition, Optimism and the Formation of Age-Dependent Survival Beliefs
Grevenbrock, Nils; Groneck, Max; Ludwig, Alexander; Zimper, Alexander (2018-06-02)This paper investigates the roles psychological biases play in deviations between subjective survival beliefs (SSBs) and objective survival probabilities (OSPs). We model deviations between SSBs and OSPs through age-dependent ... -
Endogenous Grids in Higher Dimensions: Delaunay Interpolation and Hybrid Methods
Ludwig, Alexander; Schön, Matthias (2016-04-18)This paper investigates extensions of the method of endogenous gridpoints (ENDGM) introduced by Carroll (2006) to higher dimensions with more than one continuous endogenous state variable. We compare three different ... -
Endogenous Retirement Behavior of Heterogeneous Households Under Pension Reforms
Börsch-Supan, Axel; Härtl, Klaus; Leite, Duarte; Ludwig, Alexander (2018-04-25)We propose a unified framework to measure the effects of different reforms of the pension system on retirement ages and macroeconomic indicators in the face of demographic change. A rich overlapping generations (OLG) model ... -
Evaluating the Effectiveness of Policies Against a Pandemic
Alemán, Christian; Busch, Christopher; Ludwig, Alexander; Santaeulàlia-Llopis, Raül (2020-11-12)We develop a novel empirical approach to identify the effectiveness of policies against a pandemic. The essence of our approach is the insight that epidemic dynamics are best tracked over stages, rather than over time. We ... -
Higher-Order Income Risk over the Business Cycle: A Parametric Approach
Busch, Christopher; Ludwig, Alexander (2020-03-24)We extend the canonical income process with persistent and transitory risk to shock distributions with left-skewness and excess kurtosis, to which we refer as higher- order risk. We estimate our extended income process by ... -
Idiosyncratic Risk, Aggregate Risk, and the Welfare Effects of Social Security
Harenberg, Daniel; Ludwig, Alexander (2017-12-01)We ask whether a pay-as-you-go financed social security system is welfare improving in an economy with idiosyncratic productivity and aggregate business cycle risk. We show analytically that the whole welfare benefit from ... -
On the Optimal Provision of Social Insurance
Krueger, Dirk; Ludwig, Alexander (2015-08-29)In this paper we compute the optimal tax and education policy transition in an economy where progressive taxes provide social insurance against idiosyncratic wage risk, but distort the education decision of households. ... -
Optimal Taxes on Capital in the OLG Model with Uninsurable Idiosyncratic Income Risk
Krueger, Dirk; Ludwig, Alexander (2018-02-09)We characterize the optimal linear tax on capital in an Overlapping Generations model with two period lived households facing uninsurable idiosyncratic labor income risk. The Ramsey government internalizes the general ... -
Secular Stagnation? Growth, Asset Returns and Welfare in the Next Decades: First Results
Geppert, Christian; Ludwig, Alexander; Abiry, Raphael (2016-09-08)Ongoing demographic change will lead to a relative scarcity of raw labor to the effect that output growth will be decreasing in the next decades, a secular stagnation. As physical capital will be relatively abundant, this ... -
Social Security in an Analytically Tractable Overlapping Generations Model with Aggregate and Idiosyncratic Risk
Harenberg, Daniel; Ludwig, Alexander (2015-04-13)When markets are incomplete, social security can partially insure against idiosyncratic and aggregate risks. We incorporate both risks into an analytically tractable model with two overlapping generations. We derive the ... -
The Impact of Biases in Survival Beliefs on Savings Behavior
Groneck, Max; Ludwig, Alexander; Zimper, Alexander (2017-03-24)"On average young people ""undersave"" whereas old people ""oversave"" with respect to the rational expectations model of life-cycle consumption and savings. According to numerous studies on subjective survival beliefs, ... -
The Long-Term Distributional and Welfare Effects of Covid-19 School Closures
Fuchs-Schündeln, Nicola; Krueger, Dirk; Ludwig, Alexander; Popova, Irina (2020-09-21)Using a structural life-cycle model, we quantify the long-term impact of school closures during the Corona crisis on children affected at different ages and coming from households with different parental characteristics. ...