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Francesconi, Marco; Pollak, Robert A.; Tabasso, Domenico - CESifo - 2015

Using data from the Health and Retirement Study (HRS), we make two contributions to the literature on end-of-life transfers. First, we show that unequal bequests are much more common than generally recognized, with one-third of parents with wills planning to divide their estates unequally among...

Persistent link: https://www.econbiz.de/10011165504

The Mix Between Pay-as-you-go and Funded Pensions and What Demography Has to Do with it

Praag, Bernard M.S. van; Cardoso, Pedro - CESifo - 2003

A model is presented that explains the mix between funded and unfunded pension systems. It turns out that total pension and the relative shares of the two systems may be explained and are determined by the population growth rate, technological growth, the time-preference discount rate, that...

Persistent link: https://www.econbiz.de/10005765718

The Tragedy of Annuitization

Heijdra, Ben J.; Mierau, Jochen O.; Reijnders, Laurie S. M. - CESifo - 2010

We construct a tractable discrete-time overlapping generations model of a closed economy and use it to study government redistribution of accidental bequests and private annuities in general equilibrium. Individuals face longevity risk as there is a positive probability of passing away before...

Persistent link: https://www.econbiz.de/10008511614

Pareto-Improving Intergenerational Transfers

Wigger, Berthold U. - CESifo - 2000

In the presence of endogenous growth intergenerational transfer from the young to the old reduce per capita income growth and harm future generations. On the other hand, competitive equilibria are inefficient if externalities sustain long-run growth. This paper shows that if individuals retire...

Persistent link: https://www.econbiz.de/10005094344

Sustaining Social Security

Gonzalez-Eiras, Martín; Niepelt, Dirk - CESifo - 2005

intergenerational transfers naturally arise in a Markov perfect equilibrium, even in the absence of altruism, commitment, or trigger …

Persistent link: https://www.econbiz.de/10005094483

Mobility and the Role of Education as a Commitment Device

Thum, Claudio; Uebelmesser, Silke - CESifo - 2001

European integration forces system competition within European countries. This competition has important implications for both the public pay-as-you-go pension scheme and the public education system. Without labor mobility, each generation has an incentive to invest in the human capital of the...

Persistent link: https://www.econbiz.de/10005181246

Rotten Spouses, Family Transfers and Public Goods

Cremer, Helmuth; Roeder, Kerstin - CESifo - 2014

We show that once interfamily exchanges are considered, Becker’s rotten kids mechanism has some remarkable implications that have gone hitherto unnoticed. Specifically, we establish that Cornes and Silva’s (1999) result of efficiency in the contribution game amongst siblings extends to a...

Persistent link: https://www.econbiz.de/10010877787

Social Relations and Relational Incentives

Dur, Robert; Tichem, Jan - CESifo - 2012

this end we develop a simple dynamic principal-agent model where both players may have feelings of altruism or spite toward …

Persistent link: https://www.econbiz.de/10010877789

Low Altruism, Austerity, and Aversion to Default: Are Countries Converging to the Natural Debt Limit?

Bohn, Henning - CESifo - 2013

reflecting low altruism—a discount rate on children’s utility greater than the world interest rate—and I examine the implications … spending on debt and retiree entitlements. In the model, altruism towards children determines bequests, government debt, and … the time-path of consumption. Altruism towards parents influences incentives to default. If altruism is low, voters demand …

Persistent link: https://www.econbiz.de/10010877813

Provision of a Public Good with Altruistic Overlapping Generations and Many Tribes

Karp, Larry S. - CESifo - 2012

Intergenerational altruism and contemporaneous cooperation are both important to the provision of long-lived public …

Persistent link: https://www.econbiz.de/10010877869