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Endogenous Fertility Policy
Booth, Alison L; Sepulveda, Facundo - C.E.P.R. Discussion Papers - 2004
In this Paper, we study the role of subsidies to fertility in ensuring the political viability of unfunded social security (SS). In our model, agents are heterogeneous in age and income. Young generations confront promises made previously by older generations, and in turn choose current levels...
Persistent link: https://www.econbiz.de/10005123867
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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe
Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015
these developments, policyholders desire pensions tailored to their individual needs. This paper proposes a new type of … risk-sharing functions of pensions, PPRs allow risk management and (dis)saving to be customized to the specific features of … illiquid capital, complementing public retirement provision, reducing the interest-rate sensitivity of pensions and smoothing …
Persistent link: https://www.econbiz.de/10011252616
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Time Inconsistent Preferences and the Annuitization Decision
Schreiber, Philipp; Weber, Martin - C.E.P.R. Discussion Papers - 2015
When entering retirement most people face the decision whether they would like their defined contribution account balance paid as a lump sum or to annuitize the amount. The fact that people tend to choose the lump sum even if economic reasons suggest not to is called the annuity puzzle. In a...
Persistent link: https://www.econbiz.de/10011165648
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Optimal Social Security Design
Miles, David K; Sefton, James - C.E.P.R. Discussion Papers - 2002
This Paper considers the optimal design of public pension provision for the retired and income support for those of working age. We consider social security systems that differ in terms of the level of benefits, degree of means testing and the nature of contributions. We aim to find which system...
Persistent link: https://www.econbiz.de/10005789123
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Government Cash Transfers, Household Consumption, And Poverty Alleviation - The Case Of Russia
Richter, Kaspar - C.E.P.R. Discussion Papers - 2000
is higher from regular than from transitory income sources, and higher for pensions than for child benefits and other …
Persistent link: https://www.econbiz.de/10005124403
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Wage and Pension Pressure on the Polish Budget
Crombrugghe, Alain L de - C.E.P.R. Discussion Papers - 1997
constructed for revenue and expenditure. They show that the rising number of social benefit earners (pensions, unemployment) is …
Persistent link: https://www.econbiz.de/10005136543
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Funded and Unfunded Pensions: Risk, Return and Welfare
Miles, David K - C.E.P.R. Discussion Papers - 2000
This paper uses stochastic simulations on calibrated models to assess the optimal degree of reliance on funded pensions … importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate of return and …
Persistent link: https://www.econbiz.de/10005067559
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Is There a Political Support for the Double Burden on Prolonged Activity?
Casamatta, Georges; Cremer, Helmuth; Pestieau, Pierre - C.E.P.R. Discussion Papers - 2004
In many countries elderly workers are subject to a double distortion when they consider prolonging their activity: the payroll tax and a reduction in their pension rights. It is often argued that such a double burden would not be socially desirable. We consider a setting where it would be...
Persistent link: https://www.econbiz.de/10005114223
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Sharing High Growth Across Generations: Pensions and Demographic Transition in China
Song, Zheng Michael; Storesletten, Kjetil; Wang, Yikai; … - C.E.P.R. Discussion Papers - 2012
Intergenerational inequality and old-age poverty are salient issues in contemporary China. China's aging population threatens the fiscal sustainability of its pension system, a key vehicle for intergenerational redistribution. We analyze the positive and normative effects of alternative pension...
Persistent link: https://www.econbiz.de/10011083803
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The Impact of a Permanent Income Shock on the Situation of Women in the Household: the case of a pension reform in Argentina
Berniell, Inés; de la Mata, Dolores; Machado, Matilde Pinto - C.E.P.R. Discussion Papers - 2014
Transfers to women may affect their bargaining power within the household and consequently their well-being. We analyze the effects of a pension reform in Argentina that resulted in an unexpected and substantial increase in permanent income for around 1.8 million senior women (women 60 years and...
Persistent link: https://www.econbiz.de/10011084362