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agenda. Due to endogenous human capital depreciation the effective retirement age is often below statutory retirement age … retirement. However, well designed education programs will keep more workers in highly productive activities at the end of their …
Persistent link: https://www.econbiz.de/10011584956
and retirement, taking macroeconomic repercussions through endogenous factor prices and the pension system into account …
Persistent link: https://www.econbiz.de/10010531841
We explore the various arguments for and against the recommendation that younger households should invest a larger share of their pension wealth in risky assets. The ability of young agents to compensate their financial losses by saving more during their career provides the strongest argument in...
Persistent link: https://www.econbiz.de/10010261134
The labor market effects of pension reform stem from retirement behavior and from job search and hours worked of prime …
Persistent link: https://www.econbiz.de/10010264263
This paper provides the first estimate of the actuarial balance of the Spanish contributory pension system for the old age contingency, based on official data. The novel entry in the balance sheet, named "Contribution Asset" or "Hidden Asset", is at the centre of the theoretical discussion. A...
Persistent link: https://www.econbiz.de/10010264278
endogenous retirement. Labor taxation distorts not only labor supply, but also education and retirement decisions. Actuarially … unfair pensions further exacerbate labor tax distortions on retirement. Education subsidies can nevertheless cushion the … adverse impact of taxation on skill formation. Feedbacks between education, labor supply, and retirement are important. The …
Persistent link: https://www.econbiz.de/10010264345
We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and …
Persistent link: https://www.econbiz.de/10010266022
for consumption and the hours of time supplied to the labour market, they also choose their schooling level and retirement …
Persistent link: https://www.econbiz.de/10010291543
How much retirement income is needed in order to maintain one's living standard at old age? As it is difficult to find … replacement rate vis-à-vis income in the pre-retirement period. We subject indications regarding satisfaction with current income … the year of entry into retirement as a rather robust result, while replacement rates keeping the living standard unchanged …
Persistent link: https://www.econbiz.de/10010293974
In this paper, we consider how the retirement age as well as a tax financed pension system ought to respond to a change … perfect control over the individuals' labor supply and retirement-decisions, the results show that a decrease in the standard … deviation of life-length leads to an increase in the optimal retirement age and vice versa, if the preferences for 'the number …
Persistent link: https://www.econbiz.de/10010274764