Showing 1 - 10 of 13
In this paper we consider an overlapping generations model with endogenous fertility and two-sided altruism and show the limitations of applying commonly used open loop Nash equilibrium in characterizing equilibrium transfers from parents to children in the form of bequest, and transfers from...
Persistent link: https://www.econbiz.de/10005076531
We study the aggregate effects of a social security reform in a large overlapping generations model where markets are incomplete and households face uninsurable idiosyncratic income shocks. We depart from the previous literature by assuming that, because of lack of commitment in the credit...
Persistent link: https://www.econbiz.de/10005076677
We simulate the budget of the main pension institution of the country, the Banco de Previsión Social (BPS), from 1995, the year the reform was passed, to 2050, when the new system should be mature. We perform several sensitivity analyses to evaluate which are the key exogenous variables and...
Persistent link: https://www.econbiz.de/10005125903
Edward P. Lazear‘s thesis that “personal accounts are more consistent with economic principles, avoid government moral hazard, and provide more security than government Social Security” is unsound. The same applies to a number of other statements that are made in the process of expounding...
Persistent link: https://www.econbiz.de/10005125916
I analyze simultaneous voting on the wage tax rate and investment in public education using a model with three overlapping generations and ability differences inside each cohort. Wage tax revenue finances public education and social security benefits. I derive the results both for a...
Persistent link: https://www.econbiz.de/10005125919
Persistent link: https://www.econbiz.de/10005134881
Paper presents a survey of five different approaches to retirement decision analysis. Simple life cycle labour supply model leads to a classical optimization problem of choice between work and leisure, but it is highly limited in explaining retirement decision as a static approach. Comparative...
Persistent link: https://www.econbiz.de/10005135080
In this paper we consider an overlapping generations model with endogenous fertility and two-sided altruism and show the limitations of applying commonly used open loop Nash equilibrium in characterizing equilibrium transfers from parents to children in the form of bequest, and transfers from...
Persistent link: https://www.econbiz.de/10005408281
This publication is a non-technical report prepared for Polish Ministry of Economy and Labor. The main goal is to present a comprehensive statistical and econometric analysis of employment, unemployment and participation in Poland in the period 1998-2004 and confront Polish experiences with...
Persistent link: https://www.econbiz.de/10005556757
When it comes to retirement income policy, there is a general perception that workers have full 40-year working careers before retiring. Further, it is generally assumed that workers with low lifetime earnings have low earnings in each year during a normal working career. The basic research...
Persistent link: https://www.econbiz.de/10005556818