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How to avoid a pension crisis : a question of intelligent system design
Cigno, Alessandro - 2009
Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10003936144
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How to Avoid a Pension Crisis: A Question of Intelligent System Design
Cigno, Alessandro - 2009
Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10010331423
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How to avoid a pension crisis: a question of intelligent system design
Cigno, Alessandro - 2009
Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10010264592
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A constitutional theory of the family
Cigno, Alessandro - 2005
The paper re-examines the idea that a family can be viewed as a community governed by a self-enforcing constitution, and extends existing results in two directions. First, it identifies circumstances in which a constitution is renegotiation-proof. Second, it introduces parental altruism. The...
Persistent link: https://www.econbiz.de/10010267482
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Savings, child support, pensions and endogenous (and heterogeneous) fertility
Simonovits, András - 2013
heterogeneity of rearing costs and of enjoying children is introduced. Two major results: (i) excluding negative savings, fertility … decreases with pension contributions and increases with taxes; (ii) the introduction of fertility-dependent pensions may … strengthen heterogeneity in fertility. …
Persistent link: https://www.econbiz.de/10010193875
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A constitutional theory of the family
Cigno, Alessandro (contributor) - 2005
; renegotiation-proofness ; altruism ; fertility ; saving ; transfers ; attention ; pensions ; credit rationing …
Persistent link: https://www.econbiz.de/10003260821
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Fertility Decisions and the Sustainability of Defined Benefit Pay-as-You-Go Pension Systems
Steurer, Miriam - 2009
overlapping-generations model of endogenous fertility with heterogeneous agents. The model places particular emphasis on the time … having children and hence sow the seeds of its own destruction. The model is then extended to allow for fertility … number of OECD countries that have generous DBPAYG pension systems and falling fertility rates …
Persistent link: https://www.econbiz.de/10013158604
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A Constitutional Theory of the Family
Cigno, Alessandro - 2005
The paper re-examines the idea that a family can be viewed as a community governed by a self-enforcing constitution, and extends existing results in two directions. First, it identifies circumstances in which a constitution is renegotiation-proof. Second, it introduces parental altruism. The...
Persistent link: https://www.econbiz.de/10012784207
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How to Avoid a Pension Crisis : A Question of Intelligent System Design
Cigno, Alessandro - 2021
Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10013316388
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The Role of Social Security in Household Decisions : VAR Estimates of Saving and Fertility Behaviour in Germany
Cigno, Alessandro; Casolaro, Luca; Rosati, Furio C. - 2021
Estimating saving and fertility simultaneously by the VAR method, we find that social security cover has a positive … effect on household saving, and a negative effect on fertility. In Germany, as in other countries where the hypothesis was …, the negative effect of social security on fertility tends to erode the system's own contributory base, because it reduces …
Persistent link: https://www.econbiz.de/10013321181