Showing 1 - 10 of 96
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
unanimously declines due to the general equilibrium effects of lower aggregate savings, and welfare losses amount to approximately … to finance pensions at the present level beyond the year 2050 …
Persistent link: https://www.econbiz.de/10012827665
Empirical evidence suggests that individuals often evaluate options relative to a reference point, especially seeking to avoid losses. In this paper, we provide the first welfare analysis under reference-dependent preferences. We decompose the welfare impact of changes in reference points and...
Persistent link: https://www.econbiz.de/10014243670
all EU member countries. This paper focuses on the taxation of Dutch pensions and identifies two classes of problems that … challenge the suitability of deferred pension taxation. First, cash flow taxation of pensions erodes the tax equity objectives …' current system of deferred income taxation of pensions with a frontloaded expenditure tax system …
Persistent link: https://www.econbiz.de/10012827115
Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … workers decide on their own individual savings, that the fully-funded occupational system is decided upon by the age cohort of … pension savings are the only sources of capital supply. When capital supply equals demand from industry there is equilibrium …
Persistent link: https://www.econbiz.de/10012842673
This paper documents and analyzes an important and puzzling stylized fact about retirement behavior: the large concentration of job exits at specific ages. In Germany, almost 30% of workers retire precisely in the month when they reach one of three statutory retirement ages, although there is...
Persistent link: https://www.econbiz.de/10012861376
Continuous longevity improvements and population ageing have led countries to modify national public pension schemes by increasing the standard and early retirement ages in a discretionary, scheduled, or automatic way, and by making it harder for people to retire prematurely. To this end,...
Persistent link: https://www.econbiz.de/10013314670
are strikingly different. Most nations have little scope to further finance pensions out of labour income taxation over …
Persistent link: https://www.econbiz.de/10014347982
Recently, mandatory pension contributions in the private sector in Iceland were increased substantially while remaining unchanged in the public sector. This constituted a large natural experiment. We study the effects of this experiment on households’ voluntary saving using administrative...
Persistent link: https://www.econbiz.de/10014242150
We investigate the unemployment pathway to retirement in Germany and study the causal effects of two early retirement reforms. Reform 1 (NRA) increased normal retirement age stepwise from 60 to 65. Simultaneously, it became possible to use early retirement with benefit discounts. Reform 2 (ERA)...
Persistent link: https://www.econbiz.de/10013311712