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How sustainable are old-age pensions in a shrinking population with endogenous labour supply?
Cardoso, Pedro; Praag, Bernard M. S. van - 2003
In this paper we model an OLG-economy where labour supply is endogenously determined and where we assume that there are two pension systems, namely, a pay-as-you-go system and a funded system. The main question is whether there is an equilibrium involving an old-age pensions system, partly...
Persistent link: https://www.econbiz.de/10011514183
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Ageing, government budgets, retirement, and growth
Gonzalez-Eiras, Martín; Niepelt, Dirk - 2011
We analyze the short and long run effects of demographic ageing - increased longevity and reduced fertility - on per … to demographic ageing and per-capita growth to accelerate. If the retirement age were held constant, the growth rate in …
Persistent link: https://www.econbiz.de/10009300343
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Pension policies in a model with endogenous fertility
Cipriani, Giam Pietro; Pascucci, Francesco - 2018
We set up an overlapping generations model with endogenous fertility to study pensions policies in an ageing economy … have negative effects on the fertility rate, thus exacerbating population ageing. …
Persistent link: https://www.econbiz.de/10011855784
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Save or pay-as-you-go : the effcts of ageing on optimal retirement funding
Hott, Christian - 2019
Ageing of most societies is driven by two factors: (1) birth rates are declining and (2) people are living longer … retirement. We develop an overlapping generation model in order to analyse the effects of ageing on the efficiency of retirement … old generation and that ageing makes a transfer via pay-as-you-go pension relatively more attractive. In optimum, the …
Persistent link: https://www.econbiz.de/10012317293
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Chapter 6. Intergenerational Risk Sharing
Beetsma, R.; Romp, W. - In: Handbook of the economics of population aging : Volume 1, (pp. 311-380). 2016
This chapter reviews the literature on intergenerational risk sharing (IRS). We explore to what extent and how a market economy with an appropriate institutional setting can replicate a social planner's solution in models with increasing levels of complexity. In particular, we do this for...
Persistent link: https://www.econbiz.de/10014023478
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Evidence on individual preferences for longevity risk
Delprat, Gae͏̈tan; Leroux, Marie-Louise; Michaud, … - 2013
The standard model of intertemporal choice assumes risk neutrality toward the length of life: due to additivity, agents are not sensitive to a mean preserving spread in the length of life. Using a survey fielded in the RAND American Life Panel (ALP), this paper provides empirical evidence on...
Persistent link: https://www.econbiz.de/10009730526
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A Health Economic Theory of Occupational Choice, Aging and Longevity
Strulik, Holger - 2022
In this paper, I propose a life cycle model of occupational choice with endogenous health behavior, aging, and longevity. Health-demanding work leads toa faster accumulation of health deficits and is remunerated with a hazard markup onwages. Health deficit accumulation is also influenced by...
Persistent link: https://www.econbiz.de/10013292345
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Grossman's Health Threshold and Retirement
Galama, Titus J.; Kapteyn, Arie; Fonseca, Raquel; … - 2009
The authors formulate a stylized structural model of health, wealth accumulation and retirement decisions building on the human capital framework of health provided by Grossman. They explicitly assume a functional form of the utility function and carefully account for initial conditions, which...
Persistent link: https://www.econbiz.de/10014210978
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The welfare effects of asset means-testing income support
Wellschmied, Felix - 2015
This paper quantitatively determines the asset limit in income support programs which minimizes consumption volatility in a lifecycle model with incomplete markets and idiosyncratic earnings risk. An asset limit allows allocating transfers to those households with the highest utility gains from...
Persistent link: https://www.econbiz.de/10010479004
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Pension Incentives and the Retirement Decisions of Couples
Atalay, Kadir - 2016
Recent reforms to social security in many countries have sought to delay retirement. Given the family context in which retirement decisions are made, social security reforms have potentially important spill-over effects on the participation of spouses. This paper analyses the impact of women's...
Persistent link: https://www.econbiz.de/10012987699