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Optimal Redistributive Pensions and the Cost of Self-Control

St-Amant, Pier-André Bouchard; Garon, Jean-Denis - CESifo - 2014

proportional taxation increases the cost of self-control, and that this adverse effect is more acute when public pensions become …

Persistent link: https://www.econbiz.de/10010888451

Maintaining One's Living Standard at Old Age: What Does that Mean? Evidence Using Panel Data from Germany

Dudel, Christian; Ott, Notburga; Werding, Martin - CESifo - 2013

How much retirement income is needed in order to maintain one’s living standard at old age? As it is difficult to find a firm basis for an empirical treatment of this question, we employ a novel approach to assessing an adequate replacement rate vis-à-vis income in the pre-retirement period....

Persistent link: https://www.econbiz.de/10010643338

The Design of Pension Pay Out Options when the Health Status during Retirement is Uncertain

Kifmann, Mathias - CESifo - 2008

This paper examines the optimal design of pension plans when the health status during retirement is uncertain. Assuming that the health status affects both life expectancy and the marginal utility of consumption, choice between a lump-sum payment and an annuity can be welfare-enhancing if the...

Persistent link: https://www.econbiz.de/10005765832

Can Investments in Emerging Markets Help to Solve the Aging Problem?

Holzmann, Robert - CESifo - 2000

solve the demographic problem. While these investments bring potential advantages through enhanced risk diversification …

Persistent link: https://www.econbiz.de/10005765888

Risk, Return and Portfolio Allocation under Alternative Pension Arrangements with Imperfect Financial Markets

Miles, David; Cerny, Ales - CESifo - 2001

between funded and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by … importance 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/10005765958

Actuarial Neutrality across Generations Applied to Public Pensions under Population Ageing: Effects on Government Finances and National Saving

Oksanen, Heikki - CESifo - 2005

public pensions in national accounting are also discussed. Finally, the combined effects of population ageing and public …

Persistent link: https://www.econbiz.de/10005766043

Pension Benefit Insurance and Pension Plan Portfolio Choice

Crossley, Thomas; Jametti, Mario - CESifo - 2008

Pension benefit guarantee policies have been introduced in several countries to protect private pension plan members from the loss of income that would occur if a plan was underfunded when the sponsoring firm terminates a plan. Most of these public insurance schemes face financial difficulty and...

Persistent link: https://www.econbiz.de/10005094172

Retirement, Pensions, and Ageing

Heijdra, Ben J.; Romp, Ward E. - CESifo - 2007

We study the effects of demographic shocks and changes in the pension system on the macroeconomic performance of an advanced small open economy. An overlapping-generations model is constructed which includes a realistic description of the mortality process. Individual agents choose their optimal...

Persistent link: https://www.econbiz.de/10005094360

Early Retirement and Social Security: A Long Term Perspective

Conde-Ruiz, J. Ignacio; Galasso, Vincenzo; Profeta, Paola - CESifo - 2005

We provide a long-term perspective on the individual retirement behaviour and on the future of retirement. In a Markovian political economic theoretical framework, in which incentives to retire early are embedded, we derive a political equilibrium with positive social security contribution rates...

Persistent link: https://www.econbiz.de/10005094389

The Political Economy of Intergenerational Cooperation

Cigno, Alessandro - CESifo - 2005

The paper examines the scope for mutually beneficial intergenerational cooperation, and looks at various attempts to theoretically explain the emergence of norms and institutions that facilitate this cooperation. After establishing a normative framework, we examine the properties of the...

Persistent link: https://www.econbiz.de/10005181293