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Rates of return and early retirement disincentives : evidence from a German pension reform
Lüthen, Holger - 2014
To counteract the financial pressure emerging in aging societies, statutory pay-as-you-go pension schemes are undergoing fundamental reforms in many Western countries. Starting with cohort 1937, Germany introduced permanent pension deductions for early retirement. This paper examines the...
Persistent link: https://www.econbiz.de/10010362261
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Is social security behind the collapse of personal saving?
Caliendo, Frank N. - 2009
This paper considers the quantitative role of growth in the size of the social security program in contributing to the collapse of personal saving in the U.S. over the last few decades. Using a calibrated, general equilibrium life-cycle model this paper shows that social security may not be to...
Persistent link: https://www.econbiz.de/10010265973
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How does maternal pension wealth affect family old-age savings in Germany?
Thiemann, Andreas - 2016
This paper examines how families adjust their private old-age savings in response to a change in individual pension …): 1998, 2003 and 2008. All results indicate that families do not adjust their private old-age savings in response to the … does not crowd-out old-age private savings. Hence, child care pension benefits increase a mother's old-age income without …
Persistent link: https://www.econbiz.de/10011441486
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Does consumption decline at retirement? : evidence from repeated cross-section data for Germany
Beznoska, Martin; Steiner, Viktor - 2012
The life-cycle hypothesis implies that consumption would not decline at retirement. However, several studies found relevant declines in food consumption after retirement for the United States. Others concluded that this contradiction of the life-cycle hypothesis is solved by allowing for broader...
Persistent link: https://www.econbiz.de/10009579313
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Social security and risk sharing
Gottardi, Piero; Kubler, Felix - 2006
In this paper we identify conditions under which the introduction of a pay-as-you-go social security system is ex-ante Pareto-improving in a stochastic overlapping generations economy with capital accumulation and land. We argue that these conditions are consistent with many calibrations of the...
Persistent link: https://www.econbiz.de/10010263901
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Intergenerational risk sharing by means of pay-as-you-go programs: an investigation of alternative mechanisms
Thøgersen, Øystein - 2006
A pay-as-you-go (paygo) pension program may provide intergenerational pooling of risks to individuals' labor and capital income over the life cycle. By means of a model that provides illuminating closed form solutions, we demonstrate that the magnitude of the optimal paygo program and the nature...
Persistent link: https://www.econbiz.de/10010263946
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Optimal Retirement with Disability Pensions
Fehr, Hans; Fröhlich, Adrian - 2023
quantify the impact of recent pension reforms in Germany. At certain ages households may either apply for disability pensions … (DP) or old-age pensions (OAP), de-pending on eligibility rules and the generosity of the two programs. Our policy …
Persistent link: https://www.econbiz.de/10014264162
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Aging, Taxes and Pensions in Switzerland
Keuschnigg, Christian - 2016
until 2050. To quantify the effects on pensions, taxes and social contributions, we use an overlapping generations model …
Persistent link: https://www.econbiz.de/10011431253
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Maintaining One's Living Standard at Old Age: What Does that Mean? Evidence Using Panel Data from Germany
Dudel, Christian; Ott, Notburga; Werding, Martin - 2013
How much retirement income is needed in order to maintain one's living standard at old age? As it is difficult to find a firm basis for an empirical treatment of this question, we employ a novel approach to assessing an adequate replacement rate vis-à-vis income in the pre-retirement period. We...
Persistent link: https://www.econbiz.de/10010293974
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Funded and Unfunded Pension Schemes: Risk, Return and Welfare
Miles, David K. - 2000
pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between … state the importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate …
Persistent link: https://www.econbiz.de/10010314953