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Measuring Intra-Generational Redistribution in PAYG Pension Schemes
Klos, Jonas - 2020
In this paper, we propose a novel index for measuring intra-generational redistribution in pay-as-you-go pension …-generational redistribution isolated from possible inter-generational redistribution. We use contribution records of approx. 100,000 German … individuals, who progressed into retirement in 2007-2015, to measure the level of intra-generational redistribution in the German …
Persistent link: https://www.econbiz.de/10012837478
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Inequality, Life Expectancy, and the Intragenerational Redistribution Puzzle - Some Experimental Evidence
Krieger, Tim; Meemann, Christine; Traub, Stefan - 2022
relationship between inequality of entitlements, mortality risk, and the size of redistribution in a stylized social security …In most OECD countries, pension reform policy has decreased the level of intragenerational redistribution over the last … three decades, that is, redistribution among members of the same generation with high and low pension entitlements. This …
Persistent link: https://www.econbiz.de/10013292508
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Intergenerational Actuarial Fairness When Longevity Increases : Amending the Retirement Age
Bravo, Jorge Miguel Ventura; Ayuso, Mercedes; Holzmann, … - 2021
expectancy uses a Bayesian Model Ensemble approach to stochastic mortality modelling to generate forecasts of intergenerationally …
Persistent link: https://www.econbiz.de/10013314670
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Postponing Retirement and Social Security in a Two Sector Model
Sen, Partha - 2021
Pay-as-you-go (PAYG) social security schemes in the OECD countries are facing solvency problems, as people are living longer and birth rates have declined. Postponing the full retirement age (FRA), when retirees are entitled to full pension, has been proposed as a solution. This effectively...
Persistent link: https://www.econbiz.de/10013314811
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Pension Systems (Un)Sustainability and Fiscal Constraints : A Comparative Analysis
Heer, Burkhard; Polito, Vito; Wickens, Michael R. - 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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Sharing demographic risk: who is afraid of the baby bust?
Ludwig, Alexander; Reiter, Michael - 2008
We model the optimal reaction of a public PAYG pension system to demographic shocks. We compare the ex-ante first best and second best solution of a Ramsey planner with full commitment to the outcome under simple third best rules that mimic the pension systems observed in the real world. The...
Persistent link: https://www.econbiz.de/10010264455
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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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Social security incidence under uncertainty assessing Italian reforms
Geron, Devis - 2009
This paper analyzes the welfare effects of the Italian social security system in an economy with uncertainty on wages, financial market returns and life expectancy. The introduction of a pension system reproducing the Italian statutory scheme turns out to decrease ex-ante individual welfare,...
Persistent link: https://www.econbiz.de/10010266019
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Sustaining social security
Gonzalez-Eiras, Martin; Niepelt, Dirk - 2005
This paper analyzes the sustainability of intergenerational transfers in politico-economic equilibrium. Embedding electoral competition for the votes of old and young households in the standard Diamond (1965) OLG model, we find that intergenerational transfers naturally arise in a Markov perfect...
Persistent link: https://www.econbiz.de/10010261297
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Economic and politico-economic equivalence of fiscal policies
Gonzalez-Eiras, Martín; Niepelt, Dirk - 2012
We extend economic equivalence results, like the Ricardian equivalence proposition, to the political sphere where policy is chosen sequentially. We derive conditions under which a policy regime (summarizing admissible policy choices in every period) and a state are politico-economically...
Persistent link: https://www.econbiz.de/10010280834