Economic growth in the perpetual-youth model: implications of the annuity market and demographics
The growth effect of the liberalization of the annuity market is analyzed using the Yaari-Blanchard perpetual-youth model. Two questions are addressed by the model. The first is the role played by the annuity in long-term economic growth. The second deals with long-term effects of population aging. A slowdown in economic growth is indicated in the presence of a perfect annuity market. Population aging, on the other hand, enhances long-term growth because human-capital accumulation is encouraged.
Publication Name: Journal of Macroeconomics
Models of management morality: European applications and implications
Three models of European management morality are examined. Examples of immoral management, moral management, and amoral management in the European Union are presented and each of the terms is defined.
Publication Name: Business Ethics: A European Review
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