Showing 1 - 10 of 368
Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10013316388
Lone mothers are overrepresented among poor people in many European countries. In 1998, in Norway, a welfare reform increased the amount of benefits and introduced working requirements. Using a quasi-experimental model, Mogstad and Pronzato (2012) find a positive effect of the reform on lone...
Persistent link: https://www.econbiz.de/10013315723
The paper analyses the impact of demographic developments on the German pension system until the year 2060. The projections are simulated for a range of assumptions on the latest demographic trends and on the labour market and comprise the latest pension legislation. As a central innovation we...
Persistent link: https://www.econbiz.de/10012926557
Public pay-as-you-go pensions still form the dominant pillar of old-age provision in Germany. This is in marked … recovery from the Great Recession. It has disadvantages, as Germany will be ageing very rapidly in the near future. Following a …
Persistent link: https://www.econbiz.de/10012996684
field" among the many instruments generating retirement income in Germany. The paper briefly outlines rational principles … for the taxation of retirement benefits and pensions and compares these with current practice in Germany and abroad …
Persistent link: https://www.econbiz.de/10013001171
How can retirement savings be increased? We explore a unique policy change in the context of the German pension system to study this question. As of 2005 (with a phase-in period between 2002-04), the German pension administration started to send out annual letters providing detailed and...
Persistent link: https://www.econbiz.de/10012925277
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
Declining fertility and increasing longevity have rendered public pension systems in many OECD countries unsustainable and have triggered substantial reforms of these systems. One of the officially declared reform objectives is to raise the average retirement age. Crucial parameters for this...
Persistent link: https://www.econbiz.de/10013316877
positive assortative matching, where in equilibrium the poorest women stay single. Couples have to decide on the number of … data from Germany, we also present empirical evidence which is consistent with this finding …
Persistent link: https://www.econbiz.de/10013108093
Using an OLG model with skill uncertainty and private savings, we investigate whether an optimally designed set of public pension transfers can usefully supplement a nonlinear labor income tax as a welfare-enhancing policy instrument. We consider a Mirrleesian setting where agents' skills are...
Persistent link: https://www.econbiz.de/10012965719