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The study of optimal long-term care (LTC) social insurance is generally carried out under the utilitarian social criterion, which penalizes individuals who have a lower capacity to convert resources into well-being, such as dependent elderly individuals or prematurely dead individuals. This...
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This paper studies the design of the optimal linear taxation of bequests when individuals differ in wage as well as in their risks of both mortality and old-age dependence. We assume that the government cannot distinguish between bequests motives, that is whether bequests resulted from...
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This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social … societies: aging leads to a greater increase in welfare when it is driven by an increasing longevity and the retirement age is … savings and, thus, income and welfare, in a closed economy with unfunded pension system based on defined contributions. …
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The European population is living longer but retiring earlier. More and more individuals are spending an increasing fraction of their life-time relying on retirement benefits. At the same time, social security programs face mounting financial difficulties. The purpose of this paper is to explain...
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