Research Interests
- Dynamic General Equilibrium Theory
- Macroeconomic Models of Climate Change
- Financial Markets and the Macroeconomy
- Social Security and Demographic Change
Dynamic General Equilibrium Theory
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"Bubbly Markov Equilibria" (with Martin Barbie), published in: Economic Theory, 2018, Volume 66, Issue 3, pages 627-679 >>Access online<< |
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"Uniqueness of Markov Equilibrium in Stochastic OLG Models with Nonclassical Production" published in: Economics Letters, 2014, Volume 123, Issue 2, Pages 171–176 >>Access article via ScienceDirect<< |
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"Existence of Bubbly Equilibria in Overlapping Generations Models with Stochastic Production" >>Download<< (updated June 2014) |
Macroeconomic Models of Climate Change
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"Optimal Climate Policies in a Dynamic Multi-Country Equilibrium Model" (with Elmar Hillebrand), published in:Journal of Economic Theory, 2019, Volume 179 (1), Pages 200-239 >>Access article via ScienceDirect<< >>Download final version<< (updated November 2018) >>Download simulation data<< A previous version was discussed on Chris Zimmermann's NEP-DGE blog |
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"Who Pays the Bill? Climate Change, Taxes, and Transfers in a Multi-Region Growth Model" (with Elmar Hillebrand) >>Download paper<< (updated November 2021) >>Download simulation data<< (updated November 2021) |
Financial Markets and the Macroeconomy
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"Bubbles and Crowding-in of Capital via a Savings Glut" (with Tomoo Kikuchi and Masaya Sakuragawa), published in: Macroeconomic Dynamics, 2018, Vol.22, Pages 1238-1266 >>Access online<< |
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"A Mechanism for Booms and Busts in Housing Prices" (with Tomoo Kikuchi), published in: Journal of Economic Dynamics and Control, 2015, Vol.51, Pages 204–217 >>Access article via ScienceDirect<< |
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"Governmental Debt, Sustainability, and Optimality" >>Download<< (new version coming soon) |
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“The Impact of Multiperiod Planning Horizons on Portfolios and Asset Prices in a Dynamic CAPM“ (with Jan Wenzelburger), published in: Journal of Mathematical Economics, 2006, Volume 42, Pages 565-593 >>Access article via ScienceDirect<< |
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"On the Dynamics of Asset Prices and Portfolios in a Multiperiod CAPM“ (with Jan Wenzelburger), published in: Chaos, Solitons & Fractals, 2006, Volume 29, Issue 3, Pages 578-594 >>Access article via ScienceDirect<< |
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Social Security and Demographic Change
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“On the Optimal Size of Social Security in the Presence of a Stock Market“
published in: Journal of Mathematical Economics, 2012, Volume 48, Pages 26-38 >>Access article via ScienceDirect<< Elsevier Top 25 Hottest Articles: >>01-03/2012 (Rank 8)<< >>04-06/2012 (Rank 20)<< |
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“On the Role of Labor Supply for the Optimal Size of Social Security“ published in: Journal of Economic Dynamics and Control, 2011, Volume 35, Pages 1091-1105 >>Access article via ScienceDirect<< |
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“On the Inefficiency of Pay-As-You-Go Pension Systems in Stochastic Economies with Assets“ (with Volker Böhm) >>Download<< |
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“The Role of Pension Systems and Demographic Change for Asset Prices and Capital Formation” >>Download<< |
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"Pension Systems, Demographic Change, and the Stock Market” Lecture Notes in Economics and Mathematical Systems, Volume 610, Springer Verlag, 2008, Berlin a.o. >>Buy from Amazon.com<< |
| A review that appeared in Canadian Studies in Population can be found
>>here<< |
Further Publications
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Book review of "Economic dynamics in discrete time" by Jianjun Miao, in: zbMATH, August 2017 >>View online<< |
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“Erwartungen und Plannungshorizont bestimmen Portefeuilles“, Artikel in der Börsen-Zeitung, Rubrik „Aus der Kapitalmarktforschung“, 07.06.2005 >>Download<< |
Refereeing
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Journal of Economic Dynamics and Control, Journal of Economic Growth, Journal of Economic Theory, Journal of Mathematical Ecoomics, Macroeconomic Dynamics, Economic Modelling, Journal of Economics, Journal of Economics and Statistics |
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