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In a two-period model with agent heterogeneity we analyze a pension reform toward a stronger link between contributions and benefits (as recently observed in several countries) in a pension system with a Bismarckian and a Beveridgian component. We show that such a policy change reduces the...
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ZEW Mannheim. The main tasks are to define the concept of competitiveness at the micro, meso, and macro levels of economic …
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