The strong and increasing positive correlation between lifetime income and life expectancy (the longevity gap) has recently been widely studied. In this paper we employ the simplest, minimal model to demonstrate the impact of this long-neglected fact on the various types of public pension...

The strong and increasing positive correlation between lifetime income and life expectancy (the longevity gap) has recently been widely studied. In this paper we employ the simplest, minimal model to demonstrate the impact of this long-neglected fact on the various types of public pension...

In his seminal model (Feldstein, 1985), the government operates a social security system to counter the representative worker's myopia. (i) For a complete myope, he determined a sizable optimal tax rate (and the corresponding benefit level). (ii) For a partially shortsighted worker, he...

In his seminal model (Feldstein, 1985), the government operates a social security system to counter the representative worker's myopia. (i) For a complete myope, he determined a sizable optimal tax rate (and the corresponding benefit level). (ii) For a partially shortsighted worker, he...

The partial privatization of the US Social Security system was clearly the top economic policy priority for the new Bush administration. While many famous economists, publicists and politicians support, others reject the partial privatization of the Social Security system. The international...

The goal of this study is to present an insider view on the pension reforms implemented in Hungary between 1996 and 2009. Both political economy as well as institutional economics will be used as the main approaches to analyse and explain the reform process and some of its effects. The following...

The partial privatization of the US Social Security system was clearly the top economic policy priority for the new Bush administration. While many famous economists, publicists and politicians support, others reject the partial privatization of the Social Security system. The international...