-as-you-go (PAYG) and fully-funded (FF) pension schemes crowd out voluntary retirement saving. They differ because aggregate savings … decrease in the former but increase under the latter system. Unlike most nations, Denmark has seen a decline in wealth … inequality in recent decades. This paper studies a calibrated life-cycle model of Denmark and employs unique registry data to …

estimate the development in income inequality in Denmark over the last 140 years. The paper breaks new ground in treating the … ; Denmark …

. This study adds to the discussion by providing causal estimates for the effect of transfer receipt on the savings behavior … of households. The model allows for dynamic adjustment and variations in the savings behavior over the wealth … transfer volume, the transfer incidence over the wealth distribution and the effect of the savings behavior. The results are …