This paper studies the design of retirement and disability policies when individuals differ in both productivity and health. The second-best solution implies (downward) distortions in the (per-period) labor supply and in the choice of retirement age for some individuals, and lesser...

This note presents and discusses a number of questionable assertions on retirement and on policies aimed at fostering labor participation among elderly workers. We show that these assertions are fallacious or at best highly questionable.

The purpose of this letter is to analyze the impact of economic integration when countries differ in their social security systems, more specifically in the degree of funding of their pensions, and in the regulation of the retirement age. Funding and mandatory early retirement are two features...

This paper studies the optimal linear tax-transfer policy in an economy where agents differ in productivity and in genetic background, and where longevity depends on health spending and genes. It is shown that, if agents internalize imperfectly the impact of genes and health spending on...

The purpose of this letter is to analyze the impact of economic integration on capital accumulation and capital flows when countries differ in their social security systems, especially as regards the degree of funding of pensions and the regulation of the retirement age. Funding and early...

This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping-generation model with endogenous retirement decisions, we show that both the type of aging and the type of unfunded social...

This paper shows how the role of the market, the state and the family in providing financial support at old age has evolved over time with changes in factors such as the reliability and the effectiveness of family support, the rate of interest, the cost of public funds and earning inequality. We...

Derived pension rights exist in most Social Security systems but with variable generosity. They are mainly targeted towards non-working wives and widows and are viewed as a means to alleviate poverty among older women living alone. The purpose of this paper is to explain how they can emerge from...

This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping generation model with potentially endogenous retirement decisions, the paper shows that the type of aging, i.e. declining...

There exists a wide variety of tax treatments of pensions across the world. And the reasons for such a range of regimes are not clear. This note reviews the general principles of pension taxes and analyses the theoretical foundations of why pension incomes ought to be taxed specifically. To do...