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Pensions and Fertility : Back to the Roots - The Introduction of Bismarck's Pension Scheme and the European Fertility Decline
Fenge, Robert; Scheubel, Beatrice - 2021
Fertility has long been declining in industrialised countries and the existence of public pension systems is considered … which a public pension system depresses fertility. Our theoretical framework highlights that the effect of a public pension … system on fertility works via the impact of contributions in such a system on disposable income as well as via the impact on …
Persistent link: https://www.econbiz.de/10013315719
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Fertility, Human Capital Accumulation, and the Pension System
Cremer, Helmuth; Gahvari, Firouz; Pestieau, Pierre - 2021
This paper provides a unified treatment of externalities associated with fertility and human capital accumulation as … part through education. In addition to the customary externality source associated with a change in average fertility rate … alone entails a higher fertility rate and a lower ratio of high- to low-ability children, as compared to using education …
Persistent link: https://www.econbiz.de/10013316338
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How to Avoid a Pension Crisis : A Question of Intelligent System Design
Cigno, Alessandro - 2021
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
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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 welfare, as measured by equivalent variations. While...
Persistent link: https://www.econbiz.de/10013118167
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Do Mobile Pensioners Threaten the Deferred Taxation of Savings?
Meier, Volker - 2013
We investigate optimal taxation of lifetime income with and without an emigration option during old age. The government sets the rates of deferred taxation and of possibly reduced taxation of interest. If agents are immobile, the optimal policy consists in full deferral of income taxes on...
Persistent link: https://www.econbiz.de/10013092244
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Longevity Risk and Taxation of Public Pensions
Lassila, Jukka - 2016
We study transitions from EET tax regime to TEE regime in a defined-benefit pension scheme with a numerical overlapping generations model, using stochastic mortality projections as inputs. In a traditional pension scheme with no automatic longevity rules, such as a link between life expectancy...
Persistent link: https://www.econbiz.de/10013001164
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Decomposition of Demographic Effects on the German Pension System
Fenge, Robert - 2018
effects of mortality, fertility and migration developments on the dynamics of the German pension system. We show that the past … population structure - driven by past fertility changes - and future mortality improvements will be the most important factors …
Persistent link: https://www.econbiz.de/10012926557
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Taxes and Pensions
Diamond, Peter A. - 2009
Pension benefit rules depend on individual history far more than taxes do, and age plays a much larger role in pension determination than in tax determination. Apart from some simulation studies, theoretical studies of optimal tax design typically contain neither a mandatory pension system nor...
Persistent link: https://www.econbiz.de/10013160217
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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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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