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Demography and provisions for retirement : the pension composition, a behavioral approach
Praag, Bernard M. S. van; Hop, J. Peter - 2020
for the present century, where birth and mortality rates in most western countries are steeply declining. …
Persistent link: https://www.econbiz.de/10012154725
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Old-age provision in transition : the case of Croatia
Werding, Martin; Primorac, Marko - 2016
The Croatian system of old-age provision comprises a traditional public pay-as-you-go scheme and a mandatory funded scheme ("second pillar") that will provide increasing amounts of supplementary pensions to those entering retirement in the future. Due to the continuing economic crisis, the...
Persistent link: https://www.econbiz.de/10011429587
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The political (in)stability of funded pension Systems
Beetsma, Roel; Komada, Oliwia; Makarski, Krzysztof; … - 2020
We analyze the political stability of capital funded social security. In particular, using a stylized theoretical framework we study the mechanisms behind governments capturing pension assets in order to lower current taxes. This is followed by an analysis of the analogous mechanisms in a...
Persistent link: https://www.econbiz.de/10012194597
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On the political feasibility of increasing the legal retirement age
Bittschi, Benjamin; Wigger, Berthold U. - 2019
legal retirement age is increasing in longevity and (iii) decreasing in the public pension replacement rate. We then test …
Persistent link: https://www.econbiz.de/10011966874
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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 - 2013
Fertility has long been declining in industrialised countries and the existence of public pension systems is considered as one of the causes. This paper is the first to provide detailed evidence based on historical data on the mechanism by which a public pension system depresses fertility. Our...
Persistent link: https://www.econbiz.de/10009792218
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Uncertain length of life, retirement age, and optimal pension design
Aronsson, Thomas; Blomquist, Nils Sören - 2018
In this paper, we consider how the hours of work and retirement age ought to respond to a change in the uncertainty of the length of life. In a first best framework, where a benevolent government exercises perfect control over the individuals' labor supply and retirement-decisions, the results...
Persistent link: https://www.econbiz.de/10011809912
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Intergenerational actuarial fairness when longevity increases : amending the retirement age
Bravo, Jorge Miguel Ventura; Ayuso, Mercedes; Holzmann, … - 2021
Continuous longevity improvements and population ageing have led countries to modify national public pension schemes by … expectancy uses a Bayesian Model Ensemble approach to stochastic mortality modelling to generate forecasts of intergenerationally … pension age increases needed to accommodate the effect of longevity developments on pay-as-you-go equilibrium and to reinstate …
Persistent link: https://www.econbiz.de/10012668785
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Pension systems (un)sustainability and fiscal constraints : a comparative analysis
Heer, Burkhard; Polito, Vito; Wickens, Michael R. - 2023
Using an overlapping generations model, two new indicators of public pension system sustainability are proposed: the pension space, which measures the capacity to pay for pension expenditures out of labour taxation, and the pension space exhaustion probability reflecting demographic...
Persistent link: https://www.econbiz.de/10014292762
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Forward-looking labor supply responses to changes in pension wealth : evidence from Germany
Artmann, Elisabeth; Fuchs-Schündeln, Nicola; Giupponi, … - 2023
We provide new evidence of forward-looking labor supply responses to changes in pension wealth. We exploit a 2014 German reform that increased pension wealth for mothers by an average of 4.4% per child born before January 1, 1992. Using administrative data on the universe of working histories,...
Persistent link: https://www.econbiz.de/10014280148
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Longevity risk and taxation of public pensions
Lassila, Jukka; Valkonen, Tarmo - 2015
generations model, using stochastic mortality projections as inputs. In a traditional pension scheme with no automatic longevity … public finances, when longevity increases. Diminished private saving and weaker labour supply incentives are among the …
Persistent link: https://www.econbiz.de/10011404399