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Annuity Market Imperfection, Retirement and Economic Growth
Heijdra, Ben J. - 2009
We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities by introducing a load factor on the interest rate...
Persistent link: https://www.econbiz.de/10013157843
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Matching and Saving in Continuous Time : Theory
Bayer, Christian - 2010
generalized Keynes-Ramsey rule includes a precautionary savings term. A phase diagram analysis illustrates consumption and wealth …
Persistent link: https://www.econbiz.de/10013144214
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Do Mobile Pensioners Threaten the Deferred Taxation of Savings?
Meier, Volker - 2013
policy consists in full deferral of income taxes on savings and a full taxation of interest. Mobility of the old calls for … savings in combination with full tax exemption on capital income …
Persistent link: https://www.econbiz.de/10013092244
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Endogenous Differential Mortality, Non-Contractible Effort and Non Linear Taxation
Leroux, M.‐L. - 2009
impact of survival on the return of their savings. We also claim that because of its non-monetary form, effort is not … of annuitized savings is desirable for both types. This tax is higher for the low-survival individual. Under asymmetric …
Persistent link: https://www.econbiz.de/10012764527
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Will Women Save More than Men? A Theoretical Model of Savings and Marriage
Grossbard, Shoshana Amyra - 2010
higher marriage rates and higher divorce rates will be associated with higher savings rates in the presence of economies of … marriage and with lower savings rates in the presence of diseconomies of marriage. In the context of traditional gender roles … traditional gender roles and marital status to understanding cross-country variation in gender differentials in savings behavior …
Persistent link: https://www.econbiz.de/10013139496
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Intergenerational Risk Sharing by Means of Pay-as-You-Go Programs - an Investigation of Alternative Mechanisms
Thogersen, Oystein - 2007
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/10012778396
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Contributive Pensions and Imperfect Tax Compliance : A Political Economy Model
Leroux, M.‐L. - 2018
This paper sheds light on the role of public institutions as a way to reduce tax evasion through a close link between payroll taxation and pension benefits. We use a political economy model in which agents have the possibility to hide part of their earnings in order to avoid taxation. Taxation...
Persistent link: https://www.econbiz.de/10012936565
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Retirement, Pensions, and Ageing
Heijdra, Ben J.; Romp, Ward E. - 2021
We study the effects of demographic shocks and changes in the pension system on the macroeconomic performance of an advanced small open economy. An overlapping-generations model is constructed which includes a realistic description of the mortality process. Individual agents choose their optimal...
Persistent link: https://www.econbiz.de/10013317087
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Optimal Pensions in Aging Economies
Heer, Burkhard - 2015
supply decision and 3) accounts for contributions-defined pensions of the US social security system. With these more …
Persistent link: https://www.econbiz.de/10013028781
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Testing for Convergence in Stock Markets : A Non-Linear Factor Approach
Caporale, Guglielmo Maria - 2013
This paper applies the Phillips and Sul (2007) method to test for convergence in stock returns to an extensive dataset including monthly stock price indices for five EU countries (Germany, France, the Netherlands, Ireland and the UK) as well as the US over the period 1973-2008. We carry out the...
Persistent link: https://www.econbiz.de/10013095490