An unexpected increase in life expectancy has implications for private pensions (annuities). These can be offset by reducing pension payments, cross-subsidization of the pension payments, risk-taking of insurance companies or combining these policies. An empirical study of the German market of...

Using a sample of Europeans aged 50+ from twelve countries in the Survey of Health, Ageing and Retirement in Europe (SHARE) we analyse the role of poor material conditions as a determinant of changes in health over a four-year period. We find that poverty defined with respect to relative incomes...

In most industrialized countries, more people than ever are having to cope with the burden of caring for elderly parents. This paper formulates a model to explain how parental care responsibilities and family structure interact in affecting children's mobility characteristics. A key insight we...

How individual wages change with time, and how they are expected to change as individuals grow older, is one of crucial determinants of their behaviour on the labour market including their decision to retire. The profile of individual hourly wages has for a long time been assumed to follow an...

Results from travel demand research in many countries show that - on average - women are less mobile and have different mobility patterns than men. Recent longitudinal studies of gender specific travel demand reveal converging mobility of males and females. Moreover, in some countries results...

The life-cycle hypothesis implies that consumption would not decline at retirement. However, several studies found relevant declines in food consumption after retirement for the United States. Others concluded that this contradiction of the life-cycle hypothesis is solved by allowing for broader...

The paper presents a model where public pensions are determined by majority voting. Voters differ by age and income. Moreover, life expectancy increases with income. Depending on the strength of the link between contributions and benefits, and the relationship between income and life expectancy,...

This paper examines the consequences of including the self-employed in the German pay-as-you-go pension system. The effects on the implicit tax rate of the different generations and groups are analysed. It is demonstrated that the inclusion of the self-employed can be used to reach two...

In several OECD countries, public pay-as-you-go financed pension systems have undergone major reforms in which future retirement benefit promises have been scaled down. A consequence of these reforms is that especially in countries with a tight tax-benefit linkage, the retirement benefit claims...