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Should Pensions Be Progressive? Yes, at Least In Germany!
Fehr, Hans - 2011
Recent reforms that aim at reducing the upcoming burdens of population aging might seriously harm low income individuals. An increase in old-age poverty and disability will be the result. Under this prospect, the present paper quantitatively characterizes the optimal progressivity of unfunded...
Persistent link: https://www.econbiz.de/10013118355
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The Political (In)Stability of Funded Pension Systems
Beetsma, Roel M. W. J. - 2020
We analyze the political stability of capital funded social security. In particular, using a stylized theoretical framework we study the mechanisms behind governments capturing pension assets in order to lower current taxes. This is followed by an analysis of the analogous mechanisms in a...
Persistent link: https://www.econbiz.de/10012838237
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On the Political Feasibility of Increasing the Legal Retirement Age
Bittschi, Benjamin - 2019
Within a politico-economic model we first establish three hypotheses: (i) Retirees generally prefer a higher retirement age than workers, whereby just retired individuals prefer the highest retirement age, (ii) in equilibrium the level of the legal retirement age is increasing in longevity and...
Persistent link: https://www.econbiz.de/10012892102
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Policy Uncertainty and Information Flows : Evidence from Pension Reform Expectations
Ciani, Emanuele - 2019
Subjective expectations about future policy play an important role in individuals' welfare. We examine how workers' expectations about pension reform vary with proximity to reforms, information cost, and aggregate information acquisition. We construct a new pan-European dataset of reform...
Persistent link: https://www.econbiz.de/10012861423
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Intergenerational Actuarial Fairness When Longevity Increases : Amending the Retirement Age
Bravo, Jorge Miguel; Ayuso, Mercedes; Holzmann, Robert; … - 2021
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
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Pension Reform and Labor Market Incentives
Fisher, Walter H.; Keuschnigg, Christian - 2021
This paper investigates how parametric reform in a pay-as-you-go pension system with a tax benefit link affects retirement incentives and work incentives of prime-age workers. We find that postponed retirement tends to harm incentives of prime-age workers in the presence of a tax benefit link,...
Persistent link: https://www.econbiz.de/10013317100
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Pension Systems (Un)Sustainability and Fiscal Constraints : A Comparative Analysis
Heer, Burkhard; Polito, Vito; Wickens, Michael - 2023
Using an overlapping generations model, two new indicators of public pension system sustainability are proposed: the pension space, which measures the capacity to pay for pension expenditures out of labour taxation, and the pension space exhaustion probability reflecting demographic...
Persistent link: https://www.econbiz.de/10014347982
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Does Mandatory Saving Crowd Out Voluntary Saving? Evidence from a Pension Reform
Hougaard Jensen, Svend E.; Olafsson, Sigurdur P.; … - 2022
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
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Pension Reform, Retirement and Life-Cycle Unemployment
Jaag, Christian; Keuschnigg, Christian; Keuschnigg, Mirela - 2021
The labor market effects of pension reform stem from retirement behavior and from job search and hours worked of prime age workers. This paper investigates the impact of four often proposed policy measures for sustainable pensions: strengthening the tax benefit link, moving from wage to price...
Persistent link: https://www.econbiz.de/10013316657
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Abolishing the Martial Wage Premium in Greece : Employment and Participation Effects on Minimum Wage Workers
Kakoulidou, Theano; Konstantinou, Panagiotis; Moutos, Thomas - 2021
We estimate the employment and labour force participation effects resulting from the abolition of the marital allowance … - a 10 percent mandatory top-up in the Minimum Wage (MW) for married individuals - in Greece in November 2012. Using data … from the Greek LFS over the period 2008:Q1-2016:Q1 we do not find any differential change in the probability of employment …
Persistent link: https://www.econbiz.de/10013315248