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Inequality in an OLG economy with heterogeneous cohorts and pension systems
Tyrowicz, Joanna; Makarski, Krzysztof; Bielecki, Marcin - 2018
We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features … consumption inequality and wealth inequality. Second, a pension system reform from a defined benefit to a defined contribution … works to reinforce consumption inequality and reduce wealth inequality. Third, minimum pension benefits are able to …
Persistent link: https://www.econbiz.de/10011876189
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Inequality in an OLG economy with heterogeneous cohorts and pension systems
Tyrowicz, Joanna; Makarski, Krzysztof; Bielecki, Marcin - 2018
We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features … consumption inequality and wealth inequality. Second, a pension system reform from a defined benefit to a defined contribution … works to reinforce consumption inequality and reduce wealth inequality. Third, minimum pension benefits are able to …
Persistent link: https://www.econbiz.de/10011872162
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Reforming retirement age in DB and DC pension systems in an aging OLG economy with heterogenous agents
Tyrowicz, Joanna; Makarski, Krzysztof; Bielecki, Marcin - In: IZA journal of labor policy 5 (2016) 8, pp. 1-36
We analyze the effects of increasing the retirement age in two economies with overlapping generations and within cohort ex ante heterogeneity. The first economy has a defined benefit system, and the second economy is in transition from a defined benefit to a defined contribution. We find that if...
Persistent link: https://www.econbiz.de/10011522240
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Inequality in an OLG economy with heterogeneous cohorts and pension systems
Tyrowicz, Joanna; Makarski, Krzysztof; Bielecki, Marcin - In: Journal of economic inequality 16 (2018) 4, pp. 583-606
Persistent link: https://www.econbiz.de/10012055166
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On welfare effects of increasing retirement age
Makarski, Krzysztof; Tyrowicz, Joanna - 2018
We develop an OLG model with realistic assumptions about longevity to analyze the welfare effects of raising the …
Persistent link: https://www.econbiz.de/10011812259
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On welfare effects of increasing retirement age
Makarski, Krzysztof; Tyrowicz, Joanna - 2018
We develop an OLG model with realistic assumptions about longevity to analyze the welfare effects of raising the …
Persistent link: https://www.econbiz.de/10011821425
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Chapter 13. Social Security and Public Insurance
Börsch-Supan, A.; Härtl, K.; Leite, D.N. - In: Handbook of the economics of population aging : Volume 1, (pp. 781-863). 2016
When the challenges of population aging are being debated, the uncertain future of pension systems is a topic of high priority and large controversy. The aim of this chapter is not to provide a “consensus view” on social security and public insurance in aging populations but to put structure...
Persistent link: https://www.econbiz.de/10014023471
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Pensions, economic growth and welfare in advanced economies
Devesa, Enrique; Doménech, Rafael - In: Economic challenges of pension systems : a …, (pp. 81-103). 2020
alternative systems focuses on their effects on savings, capital accumulation, labour supply, economic growth and inequality and …
Persistent link: https://www.econbiz.de/10012207196
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Retirement sorted? : the adequacy and optimality of wealth among the near-retired
Crawford, Rowena; O'Dea, Cormac - 2014
English couple households born in the 1940s. Here, 'optimal' wealth holdings are those that allow households to enjoy the same … level of living standards in both working life and retirement. We use a life-cycle model of consumption and saving to … calculate this level of wealth, and compare that with how much wealth households are observed to hold. We find that the majority …
Persistent link: https://www.econbiz.de/10010402537
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Household portfolios and financial preparedness for retirement
Crawford, Rowena; O'Dea, Cormac - In: Quantitative economics : QE ; journal of the … 11 (2020) 2, pp. 637-670
Using a lifecycle model of consumption, saving and portfolio choice combined with linked survey and administrative data … on wealth and lifetime earnings we evaluate measures of retirement preparedness. We estimate heterogeneous discount … have access only to a risk‐free asset compared to when we account for the fact that much of their wealth is stored in …
Persistent link: https://www.econbiz.de/10012213993