services, reneging on pension promises, or raising taxes. This Element examines the development of the pension crisis through … to address the pension funding crisis. …

this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more … per-capita magnitudes is positive and quantitatively significant. Second, we find that the pension system matters both for … the growth performance and for individual welfare. Third, we show that the assessment of pension reform proposals may be …

In aging societies, information on how to reform pension systems is essential to policy makers. This study scrutinizes … administrative pension data and a detailed model of the German tax and social security system to estimate a structural dynamic … that similar levels of net public returns achieved by indiscriminating pension cuts are associated with individual welfare …