This paper explores how EU countries can address various challenges (including the aging of the population) affecting their systems of old-age income support. It presents two scenarios illustrating the most important uncertainties surrounding the major developments that affect the pension...

This paper explores how EU countries can address various challenges (including the aging of the population) affecting their systems of old-age income support. It presents two scenarios illustrating the most important uncertainties surrounding the major developments that affect the pension...

In this paper we investigate the impact of a reduction in the pension replacement rate on the schooling choice and on inequality. We develop an overlapping generations model in which individuals differ by their life expectancy and in the cost of attending schooling. Individuals optimally choose...

Dieser Beitrag analysiert die Determinanten der individuellen Ausbildungs- und Renteneintrittsentscheidung. Unter Verwendung eines OLG-Modells wird gezeigt, wie die Individuen mit ihren Investitionen in Humankapital sowie mit der Entscheidung über den Zeitpunkt des Renteneintritts reagieren,...

In this paper we analyze the consequences of pension funding in a general equilibrium model of both formal schooling decisions and on-the-job human capital formation à la Heckman, Lochner and Taber (1998). Our focus lies on the distortive and redistributive effects of a Bismarckian pension...

Dieser Beitrag analysiert die Determinanten der individuellen Ausbildungs- und Renteneintrittsentscheidung. Unter Verwendung eines OLG-Modells wird gezeigt, wie die Individuen mit ihren Investitionen in Humankapital sowie mit der Entscheidung über den Zeitpunkt des Renteneintritts reagieren,...

While the effect of social security systems on retirement decisions has received much attention, the impact of these systems on individuals incentives to invest in their human capital has not been analyzed. We integrate human capital investment and retirement decisions in a simple analytical...