Showing 1 - 10 of 247
Studies of the empirical relationship between income and mortality often rely on data aggregated by geographic areas … between individual mortality and lifetime income with a large micro data base of current and former retired participants in … death between low and high lifetime income are on the order of two to three years. Income-related mortality differences …
Persistent link: https://www.econbiz.de/10005264236
using a generational accounting framework. A simulation of retirement incentives suggests that the pension system will … encourage individuals to retire earlier than the statutory full pensionable age. These incentives are stronger for low-income …
Persistent link: https://www.econbiz.de/10011243442
to 24 percent by 2030 and rising even more precipitously thereafter. This paper uses the permanent income hypothesis to …
Persistent link: https://www.econbiz.de/10011142029
This paper analyzes various reform options for Japan’s public pension in light of large fiscal consolidation needs of the country. The most attractive option is to increase the pension eligibility age in line with high and rising life expectancy. This would have a positive effect on...
Persistent link: https://www.econbiz.de/10011142039
.S. consumption as a share of income since the 1980s. Combining econometric and simulation analysis, we estimate that this departure … current level, as the saving rate rises to around 6 percent of disposable personal income (from nearly 5 percent in 2009 …
Persistent link: https://www.econbiz.de/10011142214
We compare the long-term output and current account effects of pension reforms that increase the retirement age with … a policy trade-off. Pension reforms that increase the retirement age have a large positive effect on output, but a small …
Persistent link: https://www.econbiz.de/10010790246
Pension reform is a key policy challenge in Russia. This paper examines how pension spending could increase in Russia in the absence of reforms, quantifies the impact of some recent proposals, and suggests some alternatives that would ensure public pension benefits - relative to wages - not fall...
Persistent link: https://www.econbiz.de/10010790258
This paper quantitatively investigates how population aging trend affects fiscal space measured as unused revenue generating capacity by utilizing a standard neoclassical growth model. A calibration exercise for G-7 countries shows that France, Germany and Italy suffer greater revenue impact...
Persistent link: https://www.econbiz.de/10010790302
This paper provides the first empirical assessment of the impact of life expectancy assumptions on the liabilities of private U.S. defined benefit (DB) pension plans. Using detailed actuarial and financial information provided by the U.S. Department of Labor, we construct a longevity variable...
Persistent link: https://www.econbiz.de/10010790337
External shocks pose major challenges to fiscal policy makers through lower output and large fiscal imbalances. This paper analyzes the case of Moldova, which faced parallel crises a decade apart: the Russian crisis of 1998 and the global financial crisis of 2008-2009. The country went through...
Persistent link: https://www.econbiz.de/10010790375