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heterogeneity of rearing costs and of enjoying children is introduced. Two major results: (i) excluding negative savings, fertility … decreases with pension contributions and increases with taxes; (ii) the introduction of fertility-dependent pensions may …
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that these broadly held resources substitute for savings, measures of wealth inequality that do not account for DB pensions …Defined benefit (DB) pensions and Social Security are two important resources for financing retirement in the United …
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This paper studies the elimination of traditional pensions and subsequent adoption of 401(k) plans by U.S. employers …
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Building on the evolving literature on the topic, this paper reviews the relationship between demographics and long-run capital flows in both theory and in the data. For this purpose, we develop a two region overlapping generations model where countries differ in their population growth and...
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