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well-chosen cap has an additional advantage: it limits the unintended income redistribution from the short-lived to the … cap on the social welfare and the unintended income redistribution. …
Persistent link: https://www.econbiz.de/10013198976
security systems are smaller. We relate the stylized fact to an "efficiency-redistribution" trade-off to be resolved by …
Persistent link: https://www.econbiz.de/10003280758
voters, earnings-related systems are more attractive both because of less intragenerational redistribution and lower …
Persistent link: https://www.econbiz.de/10012759164
We suggest a political economy explanation for the stylized fact that intragenerationally more redistributive social security systems are smaller. Our key insight is that linking benefits to past earnings (less redistributiveness) reduces the efficiency cost of social security (due to endogenous...
Persistent link: https://www.econbiz.de/10013318763
a number of questions on the future of pensions and on the underlying principles of redistribution between generations … redistribution seems inadequate and how, in discussing the future of such redistribution, there are new forms of life cycle … organization and redistribution of worktime and compensated inactivity across this life cycle that need to be considered. This …
Persistent link: https://www.econbiz.de/10014183757
We study the sustainability of pension systems using a life-cycle model with distortionary taxation that sets an upper limit to the real value of tax revenues. This limit implies an endogenous threshold dependency ratio, i.e. a point in the cross-section distribution of the population beyond...
Persistent link: https://www.econbiz.de/10012912616
Why, since the mid-1980s, have so many European governments decided fiscally to support the development of private retirement savings accounts? Whereas analysts of pension reform in affluent democracies have traditionally considered the development of private pensions as a secondary outcome of...
Persistent link: https://www.econbiz.de/10013030160
Persistent link: https://www.econbiz.de/10012265078
Persistent link: https://www.econbiz.de/10012005652
This paper examines the distributional impacts of the changes to benefits, tax credits, pensions and direct taxes between the UK Elections in May 2010 and in May 2015. It also looks ahead to the longer-term effects of changes and plans that were announced by the 2010-2015 Coalition government,...
Persistent link: https://www.econbiz.de/10011317097