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A Positive Theory of Social Security
Sala-i-Martin, Xavier - C.E.P.R. Discussion Papers - 1994
Social Security programmes around the world link public pensions to retirement: people do not lose their pensions if … consistent with it. The main idea is that pensions are a means to induce retirement, that is, to buy the elderly out of the …
Persistent link: https://www.econbiz.de/10005788967
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Funded and Unfunded Pensions: Risk, Return and Welfare
Miles, David K - C.E.P.R. Discussion Papers - 2000
This paper uses stochastic simulations on calibrated models to assess the optimal degree of reliance on funded pensions … importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate of return and …
Persistent link: https://www.econbiz.de/10005067559
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Risk Return and Portfolio Allocation under Alternative Pension Systems with Imperfect Financial Markets
Cerny, Ales; Miles, David K - C.E.P.R. Discussion Papers - 2001
of unfunded state pensions differs. We estimate how the optimal level of unfunded state pensions depends on rate of … is rapid and unfunded pensions are currently generous. …
Persistent link: https://www.econbiz.de/10005792047
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Government Cash Transfers, Household Consumption, And Poverty Alleviation - The Case Of Russia
Richter, Kaspar - C.E.P.R. Discussion Papers - 2000
is higher from regular than from transitory income sources, and higher for pensions than for child benefits and other …
Persistent link: https://www.econbiz.de/10005124403
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Endogenous Fertility Policy
Booth, Alison L; Sepulveda, Facundo - C.E.P.R. Discussion Papers - 2004
In this Paper, we study the role of subsidies to fertility in ensuring the political viability of unfunded social security (SS). In our model, agents are heterogeneous in age and income. Young generations confront promises made previously by older generations, and in turn choose current levels...
Persistent link: https://www.econbiz.de/10005123867
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Social Security and Migration in an Ageing Europe
von Hagen, Jürgen; Walz, Uwe - C.E.P.R. Discussion Papers - 1994
and ageing for European social security systems. With uncoordinated social security policies, national pensions funds …
Persistent link: https://www.econbiz.de/10005791913
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The Impact of a Permanent Income Shock on the Situation of Women in the Household: the case of a pension reform in Argentina
Berniell, Inés; de la Mata, Dolores; Machado, Matilde Pinto - C.E.P.R. Discussion Papers - 2014
Transfers to women may affect their bargaining power within the household and consequently their well-being. We analyze the effects of a pension reform in Argentina that resulted in an unexpected and substantial increase in permanent income for around 1.8 million senior women (women 60 years and...
Persistent link: https://www.econbiz.de/10011084362
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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe
Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015
these developments, policyholders desire pensions tailored to their individual needs. This paper proposes a new type of … risk-sharing functions of pensions, PPRs allow risk management and (dis)saving to be customized to the specific features of … illiquid capital, complementing public retirement provision, reducing the interest-rate sensitivity of pensions and smoothing …
Persistent link: https://www.econbiz.de/10011252616
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Retirement of Spouses and Social Security Reform
Falkinger, Josef; Winter-Ebmer, Rudolf; Zweimüller, Josef - C.E.P.R. Discussion Papers - 1994
The retirement decisions of spouses may be interdependent for various reasons: similarity of tastes, joint assets, sharing rules for income and housework, or complementarity of leisure. Because of data limitations, only a few empirical studies exist on this topic. From a policy point of view...
Persistent link: https://www.econbiz.de/10005123559
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Time Inconsistent Preferences and the Annuitization Decision
Schreiber, Philipp; Weber, Martin - C.E.P.R. Discussion Papers - 2015
When entering retirement most people face the decision whether they would like their defined contribution account balance paid as a lump sum or to annuitize the amount. The fact that people tend to choose the lump sum even if economic reasons suggest not to is called the annuity puzzle. In a...
Persistent link: https://www.econbiz.de/10011165648