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As the heterogeneity in life expectancy by socioeconomic status increases, pension systems become more regressive implying wealth transfers from short to long lived individuals. Various pension reforms aim to reduce these inequalities that are caused by ex-ante differences in life expectancy....
Persistent link: https://www.econbiz.de/10012597117
We study socially vs. individually optimal lifecycle allocations of consumption and health care, when individual health expenditure curbs own mortality but also has a spillover effect on other persons' survival. Such spillovers arise, for instance, when health care activity at aggregate level...
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As the heterogeneity in life expectancy by socioeconomic status increases, pension systemsbecome more regressive implying wealth transfers from short to long lived individuals. Variouspension reforms aim to reduce these inequalities that are caused by ex-ante differences in lifeexpectancy....
Persistent link: https://www.econbiz.de/10012513758
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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...
Persistent link: https://www.econbiz.de/10012126117
We investigate the differential impact that pension systems have on the labor supply and the accumulation of physical and human capital for individuals that differ by their learning ability and levels of life expectancy. Our analysis is calibrated to the US economy using a general equilibrium...
Persistent link: https://www.econbiz.de/10011620616
As the heterogeneity in life expectancy by socioeconomic status increases, pension systems become more regressive implying wealth transfers from short to long lived individuals. Various pension reforms aim to reduce these inequalities that are caused by ex-ante differences in life expectancy....
Persistent link: https://www.econbiz.de/10012597180