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This paper presents a unified analytical framework for the analysis of social security reform. It discusses reform along two dimensions: Pay-As-You-Go versus fully funded on the one hand, and actuarial versus non-actuarial on the other. Making the system more actuarial entails a trade-off...
Persistent link: https://www.econbiz.de/10010335015
This paper presents a unified analytical framework for the analysis of social security reform. It discusses reform along two dimensions: Pay-As-You-Go versus fully funded on the one hand, and actuarial versus non-actuarial on the other. Making the system more actuarial entails a trade-off...
Persistent link: https://www.econbiz.de/10005645329
Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings, mandatory fully-funded occupational pension systems, mandatory social security financed by pay-as-you-go, and old-fashioned hoarding in cash. Here, we call the specific mixture...
Persistent link: https://www.econbiz.de/10012160984
Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings, mandatory fully-funded occupational pension systems, mandatory social security financed by pay-as-you-go, and old-fashioned hoarding in cash. Here, we call the specific mixture...
Persistent link: https://www.econbiz.de/10012154725
Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory fully funded occupational pension systems, and mandatory social security financed by pay-as-you-go. The specific mixture of the three systems we will call the pension composition....
Persistent link: https://www.econbiz.de/10011870742
Pension economics has traditionally guided pension policy with the help of formal models based on individuals who think in a life cycle context with perfect foresight, full information, and in a time-consistent manner. This paper sheds light on selected aspects of pension economics when these...
Persistent link: https://www.econbiz.de/10011635567
We analyze the impact of population aging on Japan's household saving rate and on its public pension system and the … impact of that system on Japan's household saving rate and obtain the following results: first, the age structure of Japan …'s population can explain the level of, and past and future trends in, its household saving rate; second, the rapid aging of Japan …
Persistent link: https://www.econbiz.de/10010332306
We address the question of whether the heterogeneity in savings is partly due to differences in pension wealth across individuals and across countries, using a European harmonised wealth survey (HFCS) combined with estimates of pension wealth (OECD). First, we find significant displacement...
Persistent link: https://www.econbiz.de/10012156487
behavioral view and study saving and labor supply decisions in an aging population. The third viewpoint is from macroeconomics …
Persistent link: https://www.econbiz.de/10014023471
This paper examines the substitution between pension wealth and household saving by studying Norway's 2011 pension … reform. The analysis identifies the effect of reductions in social security pension generosity on household saving using … cohort, time and sector variation in pension wealth induced by the reform. Our study focuses on saving behavior between ages …
Persistent link: https://www.econbiz.de/10013370964