importance of unfunded, state pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate of … is rapid and unfunded pensions are currently generous. …

proportional taxation increases the cost of self-control, and that this adverse effect is more acute when public pensions become …

This paper studies how prefunding public pensions can improve policy outcomes when short-sighted governments cannot … commit. We focus on sustainable plans, where optimal nonlinear pensions are not reneged on by sequential governments …. Prefunding pensions is a commitment mechanism. It implies lower contributions than does the second best policy, which reduces …

How should pensions be taxed? In many cases pension savings are usually taxed more leniently than other forms of … vis pensions. It is argued that the incentive structure related to pension savings and retirement can not be seen … independently from how private pensions (and savings more generally) affect public pensions via meanstesting. The effective rates of …

pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between … state the importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate …

heavily on public pay-as-you-go (PAYG) schemes should stimulate private pensions by gradually reducing PAYG benefits collected …