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We analyze the effects of increasing the retirement age in two economies with overlapping generations and within cohort ex ante heterogeneity. The first economy has a defined benefit system, and the second economy is in transition from a defined benefit to a defined contribution. We find that if...
Persistent link: https://www.econbiz.de/10011606590
We analyze the effects of increasing the retirement age in two economies with overlapping generations and within cohort ex ante heterogeneity. The first economy has a defined benefit system, and the second economy is in transition from a defined benefit to a defined contribution. We find that if...
Persistent link: https://www.econbiz.de/10011522240
Persistent link: https://www.econbiz.de/10012055166
human wealth. The latter mitigates permanent-income inequality, though its influence is diminished by the growing importance … of assets in lifetime wealth. Average expenditures and CE inequality roughly doubled between 1983 and 2016 and, to weigh … consumption, as well as uncertainty and demographic composition. Rising inequality has offset about 1/4 of the welfare gains from …
Persistent link: https://www.econbiz.de/10014536952
human wealth. The latter mitigates permanent‐income inequality, though its influence is diminished by the growing importance … of assets in lifetime wealth. Average expenditures and CE inequality roughly doubled between 1983 and 2016 and, to weigh … consumption, as well as uncertainty and demographic composition. Rising inequality has offset about 1/4 of the welfare gains from …
Persistent link: https://www.econbiz.de/10013382060
-being (consumption flows, stocks of wealth, income equality, and economic security) from the lens of the Index of Economic Well-being, a …
Persistent link: https://www.econbiz.de/10005650207
When the challenges of population aging are being debated, the uncertain future of pension systems is a topic of high priority and large controversy. The aim of this chapter is not to provide a “consensus view” on social security and public insurance in aging populations but to put structure...
Persistent link: https://www.econbiz.de/10014023471
alternative systems focuses on their effects on savings, capital accumulation, labour supply, economic growth and inequality and …
Persistent link: https://www.econbiz.de/10012207196
In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that …. One reason is the existence of an important inter-generational transmission of wealth, to be imputed to motives that are …
Persistent link: https://www.econbiz.de/10010854342
In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that …. One reason is the existence of an important inter-generational transmission of wealth, to be imputed to motives that are …
Persistent link: https://www.econbiz.de/10010752552