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Demographics, Pension Systems and the Saving-Investment Balance
Chai, Hua - 2019
This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic...
Persistent link: https://www.econbiz.de/10012895118
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Longevity gap, indexation and age-specific average pensions
Simonovits, András - 2022
Studying the age-dimension of the probability distribution of pensions while assuming steadily rising real wages and time-invariant benefit-rules, two factors play important roles: (i) the weight of the wages in indexation of benefits in progress; (ii) the longevity gap. Factor (i) acts against...
Persistent link: https://www.econbiz.de/10014452017
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Longevity Risk in Notional Defined Contribution Pension Schemes : A Solution
Arnold (-Gaille), Severine - 2016
assumptions (constant or according to Lee-Carter mortality improvements) to calculate the maximum mortality decrease a scheme can …
Persistent link: https://www.econbiz.de/10013004273
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Demography and provisions for retirement : the pension composition, a behavioral approach
Praag, Bernard M. S. van; Hop, J. Peter - 2020
Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … workers decide on their own individual savings, that the fully-funded occupational system is decided upon by the age cohort of … pension savings are the only sources of capital supply. When capital supply equals demand from industry there is equilibrium …
Persistent link: https://www.econbiz.de/10012154725
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Demography and provisions for retirement : the pension composition, a behavioral approach
Praag, Bernard M. S. van; Hop, J. Peter - 2020
Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … workers decide on their own individual savings, that the fully-funded occupational system is decided upon by the age cohort of … pension savings are the only sources of capital supply. When capital supply equals demand from industry there is equilibrium …
Persistent link: https://www.econbiz.de/10012160984
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Demography and provisions for retirement : the pension composition, an equilibrium approach
Praag, Bernard M. S. van; Hop, J. Peter - 2018
Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory … individual savings, that the fully funded occupational system is decided upon by the age cohort of the median worker and that … decisions is a Pareto-equilibrium. Nowadays most of capital supply stems from individual and institutionalised pension savings …
Persistent link: https://www.econbiz.de/10011870742
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Compulsory and Voluntary Annuities Markets in the UK
Cannon, E. S. - 2010
concentration; an insurance cycle; pricing of mortality uncertainty and the growth in the impaired lives market …
Persistent link: https://www.econbiz.de/10013148788
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Reforming retirement age in DB and DC pension systems in an aging OLG economy with heterogenous agents
Tyrowicz, Joanna; Makarski, Krzysztof; Bielecki, Marcin - In: IZA journal of labor policy 5 (2016) 8, pp. 1-36
We analyze the effects of increasing the retirement age in two economies with overlapping generations and within cohort ex ante heterogeneity. The first economy has a defined benefit system, and the second economy is in transition from a defined benefit to a defined contribution. We find that if...
Persistent link: https://www.econbiz.de/10011522240
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On welfare effects of increasing retirement age
Makarski, Krzysztof; Tyrowicz, Joanna - 2018
We develop an OLG model with realistic assumptions about longevity to analyze the welfare effects of raising the retirement age. We look at a scenario where an economy has a pay-as-you-go defined benefit scheme and compare it to a scenario with defined contribution schemes (funded or notional)....
Persistent link: https://www.econbiz.de/10011821425
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On welfare effects of increasing retirement age
Makarski, Krzysztof; Tyrowicz, Joanna - 2018
We develop an OLG model with realistic assumptions about longevity to analyze the welfare effects of raising the retirement age. We look at a scenario where an economy has a pay-as-you-go defined benefit scheme and compare it to a scenario with defined contribution schemes (funded or notional)....
Persistent link: https://www.econbiz.de/10011812259