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Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the optimal mix between the pay-as-you-go system and the funded pension system under the assumption of an exogenous interest rate. We reconsider the problem with the addition of a...
Persistent link: https://www.econbiz.de/10005762407
In order to study whether public pension systems displace private saving, we use the quasi-experimental variation in pension wealth created by Poland's 1999 pension reform. Using the 1997–2003 Polish Household Budget Surveys, we begin by estimating "difference-in-differences" regressions,...
Persistent link: https://www.econbiz.de/10011196646
According to the 2001 Spanish budgetary previsions, the government deficit is about to disappear. We analyse this matter within a generational accounting framework. Accounting for the recent expansive phase of the economic cycle, we find that current fiscal policy is also intertemporally...
Persistent link: https://www.econbiz.de/10005703310
The analysis provides a new explanation for two widespread problems concerning European unemployment policy: the disappointingly small effect of many past reform measures on unemployment, and the political difficulties in implementing more extensive reform programs. We argue that the heart of...
Persistent link: https://www.econbiz.de/10005763705
inequality and mobility for demand for redistribution and social insurance. We model the size of two different public programs …, and the demand for redistribution crucially depend on the level of income inequality and mobility. …
Persistent link: https://www.econbiz.de/10009246698
We use a range of data sources to assess if, and to what extent, government redistribution policies have slowed or … redistribution systems in place, greater inequality automatically leads to more redistribution, even if no policy action is taken. We … redistribution. Between the mid-1990s and the mid-2000s, the redistributive strength of tax-benefit systems then weakened in many …
Persistent link: https://www.econbiz.de/10009325419
The systems of direct taxes and cash benefits in the Member States of the European Union vary considerably in size and structure. We explore their direct impacts on cross-sectional income inequality (termed "redistributive effect" for the purpose of this paper) using EUROMOD, a tax-benefit...
Persistent link: https://www.econbiz.de/10005761898
alternative institutional options: the degree of labour market flexibility and the intensity of redistribution. We show that the … (positive flexibility versus positive redistribution). …
Persistent link: https://www.econbiz.de/10005703381
Redistribution is an inevitable feature of collective pension schemes and economic experiments have revealed that most … people have a preference for redistribution that is not merely inspired by self-interest. Interestingly, little is known on … evidence on preferences for redistribution and suggest some links to redistribution through pensions. For that purpose we …
Persistent link: https://www.econbiz.de/10008548714
In this paper, we study the short-run effect of salary receipt on mortality among Swedish public sector employees. By … exploiting variation in pay-days across work-places, we completely control for mortality patterns related to, for example, public … holidays and other special days or events coinciding with paydays and for general within-month and within-week mortality …
Persistent link: https://www.econbiz.de/10010886134