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altruism. A fall in the population growth rate, even to negative values, will imply a reduction of the interest rate and an …
Persistent link: https://www.econbiz.de/10011326408
This paper studies how access to public pensions affects old-age support and child investment in traditional societies. Guided by predictions from an overlapping generations model, we analyze the influences of a new pension program in rural People's Republic of China, using a...
Persistent link: https://www.econbiz.de/10014280029
renegotiation-proof. Second, it introduces parental altruism. The behavioural and policy implications are illustrated by showing the … effects of public pensions and credit rationing. These implications are not much affected by whether altruism is assumed or … ; renegotiation-proofness ; altruism ; fertility ; saving ; transfers ; attention ; pensions ; credit rationing …
Persistent link: https://www.econbiz.de/10003260821
renegotiation-proof. Second, it introduces parental altruism. The behavioural and policy implications are illustrated by showing the … effects of public pensions and credit rationing. These implications are not much affected by whether altruism is assumed or …
Persistent link: https://www.econbiz.de/10012784207
Persistent link: https://www.econbiz.de/10000743359
Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the optimal mix between the pay-as-you-go system and the funded pension system under the assumption of an exogenous interest rate. We reconsider the problem with the addition of a...
Persistent link: https://www.econbiz.de/10001573375
Persistent link: https://www.econbiz.de/10001769107
Persistent link: https://www.econbiz.de/10001738630
In a perfectly competitive market for annuities with full information, the price of annuities is equal to individuals' (discounted) survival probabilities. That is, prices are actuarially fair. In contrast, the pricing implicit in social security systems invariably allows for cross subsidization...
Persistent link: https://www.econbiz.de/10001739598
When information on longevity (survival functions) is unknown early in life, individuals have an interest to insure themselves against future 'risk-class' classification. Accordingly, the First-Best typically involves transfers across states of nature. Competitive equilibrium cannot provide such...
Persistent link: https://www.econbiz.de/10001739603