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Risk Sharing in Defined-Contribution Funded Pension Systems
Beetsma, Roel M. W. J. - 2011
This paper explores the introduction of collective risk-sharing elements in defined contribution pension contracts. We … consider status-contingent, age-contingent and asset contingent risk-sharing arrangements. All arrangements raise aggregate …
Persistent link: https://www.econbiz.de/10013118167
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Intergenerational Risk Sharing by Means of Pay-as-You-Go Programs - an Investigation of Alternative Mechanisms
Thogersen, Oystein - 2007
the magnitude of the optimal paygo program and the nature of the underlying risk sharing effects are very sensitive to the … chosen combination of risk concepts and stochastic specification of long run aggregate wage income growth. In an additive way … we distinguish between the pooling of wage and capital risks within periods and two different intertemporal risk sharing …
Persistent link: https://www.econbiz.de/10012778396
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Intergenerational Risk-Sharing Through Funded Pensions and Public Debt
Chen, Damiaan - 2014
We explore the benefits of intergenerational risk-sharing through both private funded pensions and via the public debt …
Persistent link: https://www.econbiz.de/10013058155
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Sharing Demographic Risk - Who is Afraid of the Baby Bust?
Ludwig, Alexander; Reiter, Michael - 2021
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/10013316485
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Ageing, Government Budgets, Retirement, and Growth
Gonzalez-Eiras, Martín - 2011
We analyze the short and long run effects of demographic ageing - increased longevity and reduced fertility - on per-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital deepening, and indirect effects, working through...
Persistent link: https://www.econbiz.de/10013129861
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The Welfare Gains of Age Related Optimal Income Taxation
Bastani, Spencer - 2010
Using a calibrated overlapping generations model we quantify the welfare gains of an age dependent income tax. Agents face uncertainty regarding future abilities and can by saving transfer consumption across periods. The welfare gain of switching from an age-independent to an age-dependent...
Persistent link: https://www.econbiz.de/10013136607
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Fertility, Female Labor Supply, and Family Policy
Fehr, Hans - 2011
The present paper develops a general equilibrium model with overlapping generations and endogenous fertility in order to analyze the interaction between public policy and household labor supply and fertility decisions. The model's benchmark equilibrium reflects the current family policy...
Persistent link: https://www.econbiz.de/10013124970
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Optimal Income Taxation, Outsourcing and Policy Cooperation in a Dynamic Economy
Aronsson, Thomas - 2009
This paper concerns optimal income taxation in a two-country OLG economy, where each country is characterized by asymmetric information between the government and the private sector, and where one of the countries outsources part of its production to the other. In the country whose firms...
Persistent link: https://www.econbiz.de/10013156230
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Pension Funding and Individual Accounts in Economies with Life-Cyclers and Myopes
Fehr, Hans - 2009
The present paper studies the growth and efficiency consequences of pension funding with individual retirement accounts in a general equilibrium overlapping generations model with idiosyncratic lifespan and labor income uncertainty. We distinguish between economies with rational and hyperbolic...
Persistent link: https://www.econbiz.de/10013157654
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The Evolution of Public Spending on Higher Education in a Democracy
Haupt, Alexander - 2006
This paper analyses political forces that cause an initial expansion of public spending on higher education and an ensuing decline in subsidies. Growing public expenditures increase the future size of the higher income class and thus boost future demand for education. This demand shift implies...
Persistent link: https://www.econbiz.de/10012783323