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Social security and endogenous demographic change: child support and retirement policies
Cipriani, Giam Pietro; Fioroni, Tamara - 2021
social security and endogenous retirement and fertility decisions. It demonstrates that neither fertility nor retirement … fertility and the elderly labor supply in the economy as a whole. It shows that governments can realize the first …
Persistent link: https://www.econbiz.de/10012405524
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Human capital and pensions with endogenous fertility and retirement
Cipriani, Giam Pietro; Fioroni, Tamara - 2023
Persistent link: https://www.econbiz.de/10014249050
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Pension design when fertility fluctuates : the role of capital mobility and education financing
Zamac, Jovan - 2005
fertility. The model is a three-period CGE framework where the design of the education system and effects on factor prices are … individuals in the small open economy are unaffected by fertility fluctuations. …
Persistent link: https://www.econbiz.de/10010261351
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Endogenous demographic change, retirement and social security
Cipriani, Giam Pietro; Fioroni, Tamara - 2019
contribution scheme. In particular we examine the relationship between retirement, fertility and pensions in a three … chosen. In the case of mandatory retirement, increasing longevity has an unambiguously negative impact on fertility and … decrease fertility less. Finally, the effects of the social security tax on capital per worker are negative with mandatory …
Persistent link: https://www.econbiz.de/10011994093
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Pensions with Endogenous and Stochastic Fertility
Cremer, Helmuth; Gahvari, Firouz; Pestieau, Pierre - 2008
This paper studies the design of a pay-as-you-go social security system in a society where fertility is in part … children. The second-best level of investment in children, and the resulting average fertility rate, are less than their …
Persistent link: https://www.econbiz.de/10014067142
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Sustainable social security : four options
Kitao, Sagiri - 2011
This paper presents four policy options to make Social Security sustainable under the coming demographic shift: 1) increase payroll taxes by 6 percentage points, 2) reduce the replacement rates of the benefit formula by one-third, 3) raise the normal retirement age from sixty-six to...
Persistent link: https://www.econbiz.de/10009266746
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Labor Supply Elasticity and Social Security Reform
Imrohoroglu, Selahattin - 2009
Previous literature on social security reform has used a variety of period utility functions and calibrated values for the intertemporal elasticity of substitution (IES) in labor. In this paper, we extensively study various preferences and values for IES in a general equilibrium model with...
Persistent link: https://www.econbiz.de/10012720495
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Demography and provisions for retirement : the pension composition, an equilibrium approach
Praag, Bernard M. S. van; Hop, J. Peter - 2018
Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory fully funded occupational pension systems, and mandatory social security financed by pay-as-you-go. The specific mixture of the three systems we will call the pension composition....
Persistent link: https://www.econbiz.de/10011870742
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How did Feldstein (1985) undervalue the optimal level of social security benefits?
Simonovits, András - 2017
In his seminal model (Feldstein, 1985), the government operates a social security system to counter the representative worker's myopia. (i) For a complete myope, he determined a sizable optimal tax rate (and the corresponding benefit level). (ii) For a partially shortsighted worker, he...
Persistent link: https://www.econbiz.de/10011757069
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How to avoid a pension crisis : a question of intelligent system design
Cigno, Alessandro - 2009
Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...
Persistent link: https://www.econbiz.de/10003936144