longevity. However, an increased number of births implies immediate private costs and only delayed public benefits of younger …

We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features … consumption inequality and wealth inequality. Second, a pension system reform from a defined benefit to a defined contribution … works to reinforce consumption inequality and reduce wealth inequality. Third, minimum pension benefits are able to …

We develop an OLG model with realistic assumptions about longevity to analyze the welfare effects of raising the …

We study interactions between progressive labor taxation and social security reform. Increasing longevity puts fiscal …

longevity. In an economy with idiosyncratic income shocks, redistributive defined benefit social security provides some … efficiency gains. However, prior research financed the transitory costs of the reform by taxing consumption. We show that in the … context of longevity, capital income taxation provides a superior alternative: welfare gains are sufficient to outweigh the …

This paper revisits the standard model of labor supply under two additional assumptions: consumption requires time and … utility at the optimum and above a critical wage level it converts into a pure consumption good. Their labor-supply curve is …