Showing 1 - 10 of 3,249
We study the sustainability of pension systems using a life-cycle model with distortionary taxation that sets an upper … welfare of a number of policies often advocated to improve the sustainability of pension systems. New tax data on dynamic …
Persistent link: https://www.econbiz.de/10011864671
importance of unfunded, state pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate of … is rapid and unfunded pensions are currently generous. …
Persistent link: https://www.econbiz.de/10011398101
-generations model, where one country has PAYG pensions and the other country has funded pensions. The paper shows that the PAYG country …
Persistent link: https://www.econbiz.de/10011382085
mental cost of self-control. This effect partially offsets the forced-saving benefits of public pensions, and call for a more …
Persistent link: https://www.econbiz.de/10009774942
decreases with pension contributions and increases with taxes; (ii) the introduction of fertility-dependent pensions may …
Persistent link: https://www.econbiz.de/10010193875
This paper presents the results of the actuarial valuation method Projected Unit Credit ("benefits/years of service") in order to assess the effects of the public sector downsizing on real economy and social security in Greece, using a prototype data set. We found a social security loss of about...
Persistent link: https://www.econbiz.de/10010469137
This paper studies how prefunding public pensions can improve policy outcomes when short-sighted governments cannot … commit. We focus on sustainable plans, where optimal nonlinear pensions are not reneged on by sequential governments …. Prefunding pensions is a commitment mechanism. It implies lower contributions than does the second best policy, which reduces …
Persistent link: https://www.econbiz.de/10011405644
Continuous longevity improvements and population ageing have led countries to modify national public pension schemes by increasing the standard and early retirement ages in a discretionary, scheduled, or automatic way, and by making it harder for people to retire prematurely. To this end,...
Persistent link: https://www.econbiz.de/10012668785
pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between … state the importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate …
Persistent link: https://www.econbiz.de/10009781509
We consider three transfer models with a representative individual who discounts the utility of the merit good with respect to the standard one's. In each model, a paternalistic government taxes the consumer and transfers him additional merit goods in return. The private purchase of the merit...
Persistent link: https://www.econbiz.de/10011628049