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The Sustainability of the Pay-as-you-go System with Falling Birth Rates
Praag, Bernard M.S. van; Cardoso, Pedro - Tinbergen Institute - 2002
altruism. A fall in the population growth rate, even to negative values, will imply a reduction of the interest rate and an …
Persistent link: https://www.econbiz.de/10005144543
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The Sustainability of the Pay-as-you-go System with Falling Birth Rates
Praag, Bernard M.S. van; Cardoso, Pedro - Tinbergen Instituut - 2002
altruism. A fall in the population growth rate, even to negative values, will imply a reduction of the interest rate and an …
Persistent link: https://www.econbiz.de/10011257498
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"Should I Pay for You or for Myself"? The Optimal Level and Composition of Retirement Benefit Systems
Praag, Bernard M.S. van; Cardoso, Pedro - Institute for the Study of Labor (IZA) - 2001
Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the optimal mix between the pay-as-you-go system and the funded pension system under the assumption of an exogenous interest rate. We reconsider the problem with the addition of a...
Persistent link: https://www.econbiz.de/10005762407
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Why Do People Leave Bequests? For Love or Self-Interest? Evidence from a New International Survey of Bequest Plans
Horioka, Charles Yuji - School of Economics, University of the Philippines at … - 2014
This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a …
Persistent link: https://www.econbiz.de/10010778610
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Pension reform and intergenerational altruism in economic dynamics models
Surkov, Alexander - Volkswirtschaftliche Fakultät, … - 2009
A complexity of a pension reform realization in a country with high level of intergenerational altruism is considered … as a reason of a failure of the pension reform in Russia. Differences between intergenerational altruism levels in Russia … altruism and pension system are analyzed. Successful transition from pay-as-you go pension system to fully funded one is shown …
Persistent link: https://www.econbiz.de/10008765902
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A Constitutional Theory of the Family
Cigno, Alessandro - Institute for the Study of Labor (IZA) - 2005
renegotiation-proof. Second, it introduces parental altruism. The behavioural and policy implications are illustrated by showing the … effects of public pensions and credit rationing. These implications are not much affected by whether altruism is assumed or …
Persistent link: https://www.econbiz.de/10005762141
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On redistribution effects of public debt amongst single-minded generations
Canegrati, Emanuele - Volkswirtschaftliche Fakultät, … - 2007
In this paper I will introduce a new political economy model, where there exists a competition amongst two political candidates, which aim to set a policy which enables them to win elections, max- imising the probability of winning. I will show that, if taxes neces- sary to repay the debt are...
Persistent link: https://www.econbiz.de/10005616677
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Annuities and Individual Welfare
Davidoff, Thomas - 2008
Advancing annuity demand theory, we present sufficient conditions for the optimality of full annuitization under market completeness that are substantially less restrictive than those used by Yaari (1965). We examine demand with market incompleteness, finding that positive annuitization remains...
Persistent link: https://www.econbiz.de/10012727984
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Longevity Annuity : An Annuity for Everyone?
Scott, Jason S. - 2007
As of 2005, individuals had an estimated $7.4 trillion invested in IRAs and employer-sponsored retirement accounts. Given these investments, many retirees will face the difficult problem of turning a pool of assets into a stream of retirement income. Purchasing an immediate annuity is a common...
Persistent link: https://www.econbiz.de/10012729942
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Behavioral Obstacles to the Annuity Market
Hu, Wei-Yin - 2007
As baby boomers enter retirement, they will look to the investment industry for ways to generate retirement income from a stock of accumulated saving. A longstanding puzzle is why most retirees do not purchase longevity insurance in the form of lifetime annuities. This question is rising in...
Persistent link: https://www.econbiz.de/10012730302