Similar Search Results

Unemployment Dynamics and Social Security

Rojas, Juan; Rendon, Silvio - Society for Economic Dynamics - SED - 2004

pension system induces higher savings across the life cycle and makes agents wealthier and thus more reluctant to accept low … determine the strength of each effect, we develop a life-cycle overlapping generations model with job search, savings and a …

Persistent link: https://www.econbiz.de/10005069478

Accounting for the Heterogeneity in Retirement Wealth

Yang, Fang - Society for Economic Dynamics - SED - 2006

This paper studies a quantitative dynamic general equilibrium life-cycle model where parents and their children are linked by bequests, both voluntary and accidental, and by the transmission of earnings ability. This model is able to match very well the empirical observation that households with...

Persistent link: https://www.econbiz.de/10004977910

The Welfare Gains of Improving Risk Sharing in Social Security

Olovsson, Conny - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005069419

Aggregate Implications of Defined Benefit and Defined Contribution Systems

Michaelides, Alexander; Gomes, Francisco - Society for Economic Dynamics - SED - 2004

Financing retirement benefits is probably the most significant fiscal challenge that governments in industrial economies will be facing in the next few decades. Social security reform has therefore become an important public policy issue for many countries and various reform proposals have been...

Persistent link: https://www.econbiz.de/10005069486

On-the-Job Search and Precautionary Savings: Theory and Empirics of Earnings and Wealth Inequality

Lise, Jeremy - Society for Economic Dynamics - SED - 2006

). This feature of the model generates differential savings behavior at different points in the earnings distribution. The … that high wage and low wage workers have such different savings behavior generates an equilibrium wealth distribution that … simulation-based methods using the 1979 youth cohort of the NLSY. The estimates indicate that the micro-level search and savings …

Persistent link: https://www.econbiz.de/10005090754

Online Appendix to Should the Social Security Trust Fund hold Equities? An Intergenerational Welfare Analysis

Bohn, Henning - Society for Economic Dynamics - SED - 1999

In a stochastic economy with overlapping generations, fiscal policy affects the allocation of aggregate risks. The paper shows how to compute the welfare effects of marginal policy changes that shift risk across cohorts, in general and for an application to social security equity investments. I...

Persistent link: https://www.econbiz.de/10005090718

Ex Ante Optimality and Social Security

Gottardi, Piero; Kubler, Felix - Society for Economic Dynamics - SED - 2004

We examine the possibility of a Pareto-improving pay-as-you-go social security system, using an ex-ante welfare criterion. Our objective is to identify the conditions under which a suitably designed pay-as-you-go social security system is welfare improving, when markets are complete and...

Persistent link: https://www.econbiz.de/10005090885

Intergenerational Risk Sharing and Fiscal Policy

Bohn, Henning - Society for Economic Dynamics - SED - 2004

The paper derives conditions for ex ante efficient intergenerational risk sharing in overlapping generations models. I show how the efficiency of a fiscal policy can be evaluated without distributional judgments, I derive efficiency conditions, and then examine specific models. For models with...

Persistent link: https://www.econbiz.de/10005090921

Transfers versus Public Investment: The Politics of Intergenerational Redistribution and Growth

Gonzalez-Eiras, Martin; Niepelt, Dirk - Society for Economic Dynamics - SED - 2006

In this paper we analyze tax and transfer choices in an OLG economy with capital accumulation and endogenous growth coming from public investment, such as education. We solve for a Markov perfect equilibrium when electoral competition targets the votes of young and old households. We find that...

Persistent link: https://www.econbiz.de/10005048012

What Social Security: Beveridgean or Bismarckian?

Ruiz, J. Ignacio Conde; Profeta, Paola - Society for Economic Dynamics - SED - 2004

Bismarckian social security systems are associated with larger public pension expenditures, a smaller fraction of private pension and lower income inequality than Beveridgean systems. This paper introduces a bidimensional voting model to account for all these features. Agents differ in age,...

Persistent link: https://www.econbiz.de/10005051414