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Explaining the Wealth Holdings of Different Cohorts: Productivity Growth and Social Security

Kapteyn, Arie; Alessie, Rob; Lusardi, Annamaria - 1999

It is well-known that individuals born in different periods of time (cohorts)exhibit different wealth accumulation paths. While previous studies have usedcohort dummies to proxy for this fact, research in this area suffers from aserious identification problem, i.e., how to disentangle age, time,...

Persistent link: https://www.econbiz.de/10010324583

Generational Accounting, Solidarity and Pension Losses

Teulings, Coen N.; de Vries, Casper G. - 2003

The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger...

Persistent link: https://www.econbiz.de/10010324730

Human Capital and Cross-Country Comparison of Inequality

Viaene, Jean-Marie; Zilcha, Itzhak - 2002

The paper studies the effects of cross-country differences in the productionprocess of human capital on income … effect upon intragenerational income inequality and growth along theequilibrium path. We also indicate how the level of …

Persistent link: https://www.econbiz.de/10010324734

Human Capital Formation, Income Inequality and Growth

Viaene, Jean-Marie; Zilcha, Itzhak - 2001

The paper studies the determinants of income distribution and growth in an overlapping generations economy ….Heterogeneity in income results from the distribution of human capital acrossindividuals in a non-degenerate way. The human capital … production is affected by 'home-education' , provided bythe parents, as well as 'public-education , which is provided equally to …

Persistent link: https://www.econbiz.de/10010324875

Voluntary Participation and Intergenerational Risk Sharing in a Funded Pension System

Beetsma, Roel; Romp, Ward; Vos, Siert J. - 2011

We explore the feasibility of a funded pension system with intergenerational risk sharing when participation in the system is voluntary. Typically, the willingness of the young to participate depends on their belief about the future young's willingness to do so. We characterise equilibria with...

Persistent link: https://www.econbiz.de/10010325858

Optimal Sharing of Labor Productivity Risks and Mix of Pay-As-You-Go and Savings

Bilard, Debora Kusmerski - 2008

The paper addresses two related issues: the optimal intergenerational sharing of laborproductivity risks, through a Pay-As-You-Go (PAYG) social security, and the mix ofPAYG and savings for retirement provision in a small open economy. It shows that partial contingency of the social security on...

Persistent link: https://www.econbiz.de/10010326022

Why do Entrepreneurial Parents have Entrepreneurial Children?

Lindquist, Matthew; Sol, Joeri; van Praag, Mirjam - 2012

it not only includes data on occupational status for the adoptees and their adoptive parents, but also for their … biological parents. Moreover, we use comparable data on entrepreneurship for a large, representative sample of the Swedish … the probability of children's entrepreneurship by about 60%. We further show that for adoptees, both biological and …

Persistent link: https://www.econbiz.de/10010326312

Participation Constraints in Pension Systems

Beetsma, Roel; Romp, Ward - 2013

We explore voluntary participation in pension arrangements. Individuals only participate when participation is more attractive than autarky. The bene??it of participation is that risks can be shared with future generations. We apply our analysis to a pay-as-you-go system, a funded system without...

Persistent link: https://www.econbiz.de/10010326545