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      <record key="001" att1="001" value="174876" att2="174876">001   174876</record>
      <field key="037" subkey="x">englisch</field>
      <field key="050" subkey="x">Forschungsbericht</field>
      <field key="076" subkey="">Ökonomie</field>
      <field key="079" subkey="y">http://www.ihs.ac.at/publications/eco/es-230.pdf</field>
      <field key="079" subkey="z">Fisher, Walter H. - et al., Growth and the Ageing Joneses (pdf)</field>
      <field key="079" subkey="y">http://ideas.repec.org/p/ihs/ihsesp/230.html</field>
      <field key="079" subkey="z">Institute for Advanced Studies. Economics Series; 230 (RePEc)</field>
      <field key="100" subkey="">Fisher, Walter H.</field>
      <field key="103" subkey="">Department of Economics and Finance, Institute for Advanced Studies, Vienna, Austria</field>
      <field key="104" subkey="a">Heijdra, Ben J.</field>
      <field key="107" subkey="">Department of Economics, University of Groningen, Groningen, The Netherlands, and Institute for Advanced Studies, Netspar, CESifo</field>
      <field key="331" subkey="">Growth and the Ageing Joneses</field>
      <field key="403" subkey="">1. Ed.</field>
      <field key="410" subkey="">Wien</field>
      <field key="412" subkey="">Institut für Höhere Studien</field>
      <field key="425" subkey="">2008, November</field>
      <field key="433" subkey="">24 pp.</field>
      <field key="451" subkey="">Institut für Höhere Studien; Reihe Ökonomie; 230</field>
      <field key="451" subkey="h">Kunst, Robert M. (Ed.) ; Fisher, Walter (Assoc. Ed.) ; Ritzberger, Klaus (Assoc. Ed.)</field>
      <field key="461" subkey="">Economics Series</field>
      <field key="517" subkey="c">from the Table of Contents: Introduction; The Macroeconomy; Aggregation and the Macroeconomic Equilibrium; Steady-State Growth;</field>
      <field key="Com" subkey="p">arative Static Effects; Introducing a PAYG Pension System; Pension Policy and Economic Growth; Conclusions; Appendixes:</field>
      <field key="Der" subkey="i">vation of equations (16)-(17); Conditions on steady-state profiles; Derivation of (46) and (47); PAYG and the welfare of</field>
      <field key="new" subkey="b">orns; References;</field>
      <field key="542" subkey="">1605-7996</field>
      <field key="544" subkey="">IHSES 230</field>
      <field key="700" subkey="">D91</field>
      <field key="700" subkey="">E21</field>
      <field key="700" subkey="">H55</field>
      <field key="720" subkey="">Relative consumption</field>
      <field key="720" subkey="">OLG</field>
      <field key="720" subkey="">Endogenous growth</field>
      <field key="720" subkey="">Pension reform</field>
      <field key="753" subkey="">Abstract: We incorporate Keeping-up-with-the-Joneses (KUJ) preferences into the Blanchard-Yaari (BY) framework and develop, using</field>
      <field key="an" subkey="A">K technology, a model of balanced growth. In this context we investigate status preference, demographic, and pension policy</field>
      <field key="sho" subkey="c">ks. We find that a higher degree of KUJ lowers economic growth, while, in contrast, a decrease in the fertility and mortality</field>
      <field key="rat" subkey="e">s increase it. In the second part of the paper we extend the model by incorporating a Pay-as-you-go (PAYG) pension system</field>
      <field key="wit" subkey="h">a statutory retirement date. This introduces a life-cycle in human wealth earnings and implies that the growth rate is</field>
      <field key="hig" subkey="h">er under PAYG. We also consider the implications of an increase in the retirement date under both defined benefit and defined</field>
      <field key="con" subkey="t">ribution schemes.;</field>
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