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This paper uses a heterogeneous-agent overlapping-generations model to examine the fiscal and distributional consequences of introducing a means test in US Social Security. I find that a means test, that is, conditioning benefit payments on a household's earnings or assets, leads to a higher...
Persistent link: https://www.econbiz.de/10014513264
Estimating saving and fertility simultaneously by the VAR method, we find that social security cover has a positive … effect on household saving, and a negative effect on fertility. In Germany, as in other countries where the hypothesis was … saving in the form of pension contributions tends to displace intra-family transfers, rather than asset formation. However …
Persistent link: https://www.econbiz.de/10013321181
I contribute new evidence on altruistic preferences in intergenerational transfers using variation in Social Security benefits induced by an inflation-indexing mistake. The instrument is most relevant for those with low education, so I focus on this group. I find support for pure altruism...
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Differences in life expectancy between high and low socioeconomic groups are often large and have widened recently in many countries. Such longevity gaps affect the actuarial fairness and progressivity of public pension systems. However, behavioral responses to longevity and policy complicate...
Persistent link: https://www.econbiz.de/10012314266
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version of the selfish life-cycle model and then survey the literature on household saving and bequest behavior in Japan in …
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