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Demographic Change, Social Security Systems, and Savings
Bloom, David E. - 2010
In theory, improvements in healthy life expectancy should generate increases in the average age of retirement, with little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent retirement ages from keeping pace with changes in life...
Persistent link: https://www.econbiz.de/10012760611
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Propagation and Smoothing of Shocks in Alternative Social Security Systems
Auerbach, Alan J. - 2013
-equilibrium overlapping generations model to incorporate realistic patterns of fertility and mortality and shocks to productivity, fertility … fertility and mortality shocks, but that this is not the case for productivity shocks, for which the pension systems actually …
Persistent link: https://www.econbiz.de/10013080219
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Simulating Alternative Social Security Responses to the Demographic Transition
Auerbach, Alan J.; Kotlikoff, Laurence J. - 2021
simulation model. In addition to describing general transition (as opposed to simply long run) affects of fertility change, the …
Persistent link: https://www.econbiz.de/10013249582
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Old Europe Ages : Reforms and Reform Backlashes
Börsch-Supan, Axel H. - 2010
The extent of the demographic changes in Europe is dramatic and will deeply affect future labor, financial and goods markets. The expected strain on public budgets and especially social security has already received prominent attention, but aging poses many other economic challenges that...
Persistent link: https://www.econbiz.de/10013147613
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Finding a Way Out of America'S Demographic Dilemma
Kotlikoff, Laurence J.; Smetters, Kent A.; Walliser, Jan - 2021
mean higher worker productivity, higher real wages, and the lower return to capital that worries Wall Street. It would also …-cycle simulation model to study these conflicting forces. The model is the first of its kind to admit realistic patterns of fertility … study both intra- and intergenerational equity. Unfortunately, our baseline demographic simulation, which assumes the …
Persistent link: https://www.econbiz.de/10013218306
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How Household Portfolios Evolve after Retirement : The Effect of Aging and Health Shocks
Coile, Courtney - 2010
In this paper, we study how the portfolios of elderly U.S. households evolve after retirement, using data from the Health and Retirement Study (HRS). In particular, we investigate the influence of aging and health shocks on a household%u2019s ownership of various assets and on the dollar value...
Persistent link: https://www.econbiz.de/10012760785
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Aging, Saving, and Public Pensions in Japan
Horioka, Charles Yuji - 2007
We analyze the impact of population aging on Japan's household saving rate and on its public pension system and the impact of that system on Japan's household saving rate and obtain the following results: first, the age structure of Japan's population can explain the level of, and past and...
Persistent link: https://www.econbiz.de/10012776458
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The Old Age Security Hypothesis and Population Growth
Willis, Robert J. - 2022
In traditional societies it is often argued that parents' desire for old age security in the form of transfers from their children provides an important motive for childbearing. Some doubt has been cast on this "old age security hypothesis" by recent estimates which suggest that the rate of...
Persistent link: https://www.econbiz.de/10013309359
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A Matter of Trust : Understanding Worldwide Public Pension Conversions
Smetters, Kent A. - 2014
This paper seeks to explain the key two stylized facts of fundamental reforms to social security systems worldwide: Why have so many countries reformed when traditional systems seem, at first glance, to have a higher probability of delivering a secure retirement income? Why have these reforms...
Persistent link: https://www.econbiz.de/10013068090
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Population Aging, Savings Behavior and Capital Markets
Börsch-Supan, Axel H. - 2001
to have beneficial side effects in terms of improved capital efficiency, total factor productivity, and growth. Looking …
Persistent link: https://www.econbiz.de/10012787561