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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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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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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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Is Social Security Behind the Collapse of Personal Saving?
Caliendo, Frank - 2009
This paper considers the quantitative role of growth in the size of the social security program in contributing to the collapse of personal saving in the U.S. over the last few decades. Using a calibrated, general equilibrium life-cycle model this paper shows that social security may not be to...
Persistent link: https://www.econbiz.de/10013157190
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Do Retirement Savings Increase in Response to Information About Retirement and Expected Pensions?
Dolls, Mathias - 2018
How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … these letters on the behavior of individuals. We find an increase in tax-deductible private retirement savings and provide … evidence that this is not due to a crowding-out of other forms of savings. We also show that labor earnings, i.e. the most …
Persistent link: https://www.econbiz.de/10012925277
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Second-Best Income Taxation with Endogenous Human Capital and Borrowing Constraints
Jacobs, Bas - 2013
We formulate a two-period life-cycle model of saving, labor supply, and human capital investments when individuals differ in ability and initial wealth. Borrowing constraints prevent individuals to optimally smooth consumption over the life-cycle and to optimally invest in human capital. We show...
Persistent link: https://www.econbiz.de/10013084907
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Financial Constraints and Nominal Price Rigidities
Balleer, Almut - 2017
This paper investigates how financial market imperfections and the frequency of price adjustment interact. Based on new firm-level evidence for Germany, we document that financially constrained firms adjust prices more often than their unconstrained counterparts, both upwards and downwards. We...
Persistent link: https://www.econbiz.de/10012962670
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The Political Economy of Post-Compulsory Education Policy with Endogenous Credit Constraints
Anderberg, Dan - 2008
Altruistic parents, who differ in income, make financial transfers to their children, who differ in ability. The children invest in post-compulsory education, subject to an endogenous credit constraint, and taking policy as given. There are two policy tools: a subsidy to those who participate in...
Persistent link: https://www.econbiz.de/10012771859
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Microeconometric Evidence of Financing Frictions and Innovative Activity
Tiwari, Amaresh - 2014
Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics, and R&D slows down. In the absence of financial...
Persistent link: https://www.econbiz.de/10013057269
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Taxation and the Optimal Constraint on Corporate Debt Finance
Birch Sørensen, Peter - 2014
The tax bias in favour of debt finance under the corporate income tax means that corporate debt ratios exceed the socially optimal level. This creates a rationale for thin-capitalization rules limiting the amount of debt that qualifies for interest deductibility. This paper sets up a model of...
Persistent link: https://www.econbiz.de/10013039997