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Demography and provisions for retirement : the pension composition, a behavioral approach

Praag, Bernard M. S. van; Hop, J. Peter - 2020

Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … workers decide on their own individual savings, that the fully-funded occupational system is decided upon by the age cohort of … pension savings are the only sources of capital supply. When capital supply equals demand from industry there is equilibrium …

Persistent link: https://www.econbiz.de/10012154725

Optimal retirement with disability pensions

Fehr, Hans; Fröhlich, Adrian W. - 2022

hardly any attention in the public pension debate in Germany. Our simulation results indicate that with current eligibility …

Persistent link: https://www.econbiz.de/10013473681

Progressive tax changes to superannuation in a lifecycle framework

Kudrna, George; Woodland, Alan D. - 2015

experienced by lower income households. The simulation results also show positive long run effects of the reforms on domestic …

Persistent link: https://www.econbiz.de/10011404438

Funded and unfunded pension schemes : risk, return and welfare

Miles, David - 2000

This paper uses stochastic simulations on calibrated models to assess the optimal degree of reliance on fun ded pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between funded and unfunded systems when there are sources of...

Persistent link: https://www.econbiz.de/10009781509

Why mandate young borrowers to contribute to their retirement accounts?

Andersen, Torben M.; Bhattacharya, Joydeep - 2017

borrowing more that too at a rate higher than offered by pension savings, their life-time utility increases. …

Persistent link: https://www.econbiz.de/10011688004

The macroeconomic effects of longevity risk under private and public insurance and asymmetric information

Heijdra, Ben J.; Jiang, Yang; Mierau, Jochen O. - 2017

We study the impact of a fully-funded social security system in an economy with heterogeneous consumers. The unobservability of individual health conditions leads to adverse selection in the private annuity market. Introducing social security - which is immune to adverse selection - affects...

Persistent link: https://www.econbiz.de/10011761551

Stimulating annuity markets

Heijdra, Ben J.; Mierau, Jochen O.; Trimborn, Timo - 2014

We study the short-, medium-, and long-run implications of stimulating annuity markets in a dynamic general-equilibrium overlapping-generations model. We find that beneficial partial-equilibrium effects of stimulating annuity markets are counteracted by negative general-equilibrium...

Persistent link: https://www.econbiz.de/10010361493

Intergenerational risk-sharing through funded pensions and public debt

Chen, Damiaan H. J.; Beetsma, Roel; Ponds, Eduard; … - 2014

We explore the benefits of intergenerational risk-sharing through both private funded pensions and via the public debt. We use a multi-period overlapping generations model with a PAYG pension pillar, a funded pension pillar and a government. Shocks are smoothed via the public debt and variations...

Persistent link: https://www.econbiz.de/10010238325

The mix between pay-as-you-go and funded pensions and what demography has to do with it

Praag, Bernard M. S. van; Cardoso, Pedro - 2003

A model is presented that explains the mix between funded and unfunded pension systems. It turns out that total pension and the relative shares of the two systems may be explained and are determined by the population growth rate, technological growth, the time-preference discount rate, that...

Persistent link: https://www.econbiz.de/10011514202

Optimal pensions in aging economies

Heer, Burkhard - 2015

Ýmrohoroðlu, Ýmrohoroðlu and Joines [1995, A life-cycle analysis of Social Security, Economic Theory, vol. 6, 83 …

Persistent link: https://www.econbiz.de/10010477151

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