accentuated by fundamental pension reforms that aim at more pre-funding. Population aging changes households' savings behavior and … at the effects of population aging on savings behavior and capital markets therefore adds a new dimension to the …

, in particular of public pensions. Current costs are high, and the pressures will increase due to population aging and … adaptation of the normal retirement age to increased life expectancy, and more reliance on private savings - elements of a … sustainable but complex multipillar system of pensions and similar entitlement programs …

About 20% of German workers retire on disability pensions. Disability pensions provide fairly generous benefits for … retirement behavior, we then simulate changes in the generosity of disability pensions to understand how these changes would …