The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger...

This paper analyses the impact of public pension expenditures and pension funds' assets as well as their benefits on economic volatility. To do so, we use panel data for 35 OECD countries for the period 1980-2018 and apply a set of state-of-the-art econometric estimators. Our results show weak...

This paper assesses the impact of a dramatic reform of the Dutch pension system on mental health, savings behavior and retirement expectations of workers nearing retirement age. The reform means that public sector workers born on January 1, 1950 or later face a substantial reduction in their...

This paper assesses the impact of a dramatic reform of the Dutch pension system on mental health, savings behavior and retirement expectations of workers nearing retirement age. The reform means that public sector workers born on January 1, 1950 or later face a substantial reduction in their...

We use the first three waves of the Household Income and Labour Dynamics in Australia (HILDA) Survey to examine the retirement plans of middle-aged workers (aged 45-55). Our results indicate that approximately two-thirds of men and more than half of women appear to be making standard retirement...

In the wake of the global pandemic known as COVID-19, retirees, along with those hoping to retire someday, have been shocked into a new awareness of the need for better risk management tools to handle longevity and aging. This paper offers an assessment of the status quo prior to the spread of...

Um die Finanzierung der gesetzlichen Rente im Umlageverfahren nachhaltig zu sichern, ist es erforderlich, dass möglichst viele Menschen bis zur Regelaltersgrenze arbeiten. Der Renteneintritt wird in der ökonomischen Theorie als individuelle Entscheidung eines Abwägens der Opportunitätskosten...

The goal of this study is to present an insider view on the pension reforms implemented in Hungary between 1996 and 2009. Both political economy as well as institutional economics will be used as the main approaches to analyse and explain the reform process and some of its effects. The following...

Wenn die Babyboom-Generation in das Rentenalter eintritt, also in weniger als zehn Jahren, werden die Erwerbstätigen deutlich mehr Rentner versorgen müssen als derzeit. Um dies zu erleichtern und die Altersarmut zu mildern, wurde die Riesterrente eingeführt, die allerdings weniger nachgefragt...