household income and consumption by an equivalence scale. We argue that this leads to support for tax/transfer policies that … significantly disadvantage low to middle in-come households and women as second earners. We base the critique both on a theoretical … model of the family household and a detailed analysis of Australian income and employment data. …

household income and consumption by an equivalence scale. We argue that this leads to support for tax/transfer policies that … significantly disadvantage low to middle income households and women as second earners. We base the critique both on a theoretical … model of the family household and a detailed analysis of Australian income and employment data. …

importance of unfunded, state pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate of … return and income risks and also upon the actuarial fairness of annuity contracts. We focus on the case of Japan where aging … is rapid and unfunded pensions are currently generous. …

-generations model, where one country has PAYG pensions and the other country has funded pensions. The paper shows that the PAYG country …

and in productivity. A pension scheme simultaneously has three effects: it redistributes income across retirees, it forces …. In a scheme with a proportional income tax and benefits with a contributory component, taxation generally increases the … mental cost of self-control. This effect partially offsets the forced-saving benefits of public pensions, and call for a more …