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Demographic Change, Social Security Systems, and Savings
Bloom, David E. - 2010
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 expectancy, leading to an increased need for life-cycle savings. Analyzing … a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in …
Persistent link: https://www.econbiz.de/10012760611
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Population Aging, Savings Behavior and Capital Markets
Börsch-Supan, Axel H. - 2001
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 …
Persistent link: https://www.econbiz.de/10012787561
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Redistributive Effects of Different Pension Systems When Longevity Varies by Socioeconomic Status
Sánchez-Romero, Miguel - 2019
individuals face ex ante differences in mortality. Differences in life expectancy between high and low socioeconomic groups are … plans, calibrated on the US case. Compared to a benchmark non-redistributive plan that accounts for differences in mortality …
Persistent link: https://www.econbiz.de/10012868200
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Redistributive Effects of Different Pension Systems When Longevity Varies by Socioeconomic Status
Sánchez-Romero, Miguel - 2019
individuals face ex ante differences in mortality. Differences in life expectancy between high and low socioeconomic groups are … plans, calibrated on the US case. Compared to a benchmark non-redistributive plan that accounts for differences in mortality …
Persistent link: https://www.econbiz.de/10012868359
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Pension Funding and Saving
Bernheim, B. Douglas; Shoven, John B. - 2021
This paper suggests that the nature of the funding of defined benefit pension plans may be an important reason why personal saving has not responded positively to the high real interest rites and tax incentives to encourage saving and investment of the last few years. From a firm's standpoint,...
Persistent link: https://www.econbiz.de/10013224409
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Logical Implications of Gasb's Methodology for Valuing Pension Liabilities
Novy-Marx, Robert - 2011
It is well known that the funding status of state and local government defined benefit pension plans, as measured by the accounting methodology prescribed by the Governmental Accounting Standards Board (GASB), improves when the plans take on more investment risk. This paper documents several...
Persistent link: https://www.econbiz.de/10013118133
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Adjusting Government Policies for Age Inflation
Shoven, John B. - 2010
remaining life expectancy and lower mortality risk relative to earlier time periods due to improvements in mortality. We examine … to determine what eligibility ages would be today and in 2050 if adjustments for mortality improvement were taken into … approximately 0.15 years annually. Failure to adjust for mortality improvement implies the percent of the population eligible to …
Persistent link: https://www.econbiz.de/10012758511
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Retirement in the Shadow (Banking)
Ordoñez, Guillermo - 2019
The U.S. economy has recently experienced two, seemingly unrelated, phenomena: a large increase in post-retirement life expectancy and a major expansion in securitization and shadow banking activities. We argue they are intimately related. Agents rely on financial intermediaries to save for...
Persistent link: https://www.econbiz.de/10012861660
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The Growth in Social Security Benefits Among the Retirement Age Population from Increases in the Cap on Covered Earnings
Gustman, Alan L. - 2010
This paper investigates how increases in the level of maximum earnings subject to the Social Security payroll tax have affected Social Security benefits and taxes. The analysis uses data from the Health and Retirement Study to ask how different the present value of own benefits and taxes would...
Persistent link: https://www.econbiz.de/10013136554
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Population Aging
Weil, David N. - 2010
Population aging is primarily the result of past declines in fertility, which produced a decades long period in which the ratio of dependents to working age adults was reduced. Rising old-age dependency in many countries represents the inevitable passing of this %u201Cdemographic dividend.%u201D...
Persistent link: https://www.econbiz.de/10012761665