reform seems to be efficient in terms of welfare and enhances economic performance. Comparing the welfare of various closures … we find that while labor taxation yields relatively higher welfare gain, public debt closure involves least need for the …

We evaluate the welfare and macroeconomic effects of increasing the retirement age in the context of population aging … is universally welfare enhancing for all living and future cohorts, regardless of the pension system. Quantitatively … our findings in a population with lower pace of aging due to higher fertility. Finally, we show scope for further welfare …

The objective of this paper is to analyze the welfare effects of raising the retirement age. With aging populations, in …, such policy necessitates some welfare deterioration. This could be outweighed by lower taxation (defined benefit schemes … in which we analyze welfare effects of extending the retirement age under PAYG defined benefit, PAYG defined contribution …

effects of simulated increases to the birth rates. We analyze the overall macroeconomic and welfare effects of these simulated … effects are positive, but short of the natalistic expenditures in many countries. The sign and the size of both welfare and …

effects of simulated increases to the birth rates. We analyze the overall macroeconomic and welfare effects of these simulated … effects are positive, but short of the natalistic expenditures in many countries. The sign and the size of both welfare and …

We develop an OLG model with realistic assumptions about longevity to analyze the welfare effects of raising the … the majority of welfare effects comes from adjustments in taxes and/or prices. After the transition period, welfare … although incentives differ between defined benefit and defined contribution systems, the welfare effects are of comparable …

We develop an OLG model with realistic assumptions about longevity to analyze the welfare effects of raising the … the majority of welfare effects comes from adjustments in taxes and/or prices. After the transition period, welfare … although incentives differ between defined benefit and defined contribution systems, the welfare effects are of comparable …

funded pension pillar with a pay-as-you-go scheme. We show that even if capturing assets reduces welfare in the long run, it …