The rational prodigality argument, which often serves to justify social security,is considered in a second-best tax framework with endogenous labor supply. Rationalprodigality renders the familiar policies time inconsistent. We analyze time consistentpolicies and show that a wage tax suffices to...

This paper analyses a model of overlapping generations in which agents who do notparticipate in the labor market are unable to borrow. Thus an increase in a fullyfunded pension raises aggregate savings even with a fixed participation rate, sinceprivate savings are not crowded out one-for-one....

Demographic crisis and imprudent commitments have induced a crisis in publicpension programmes in OECD countries. Will present and prospective cutbacks leadto greater private saving, either in the form of private pension provision or in otherforms of saving? The paper surveys existing evidence,...

Nach dem neuen Alterseinkünftegesetz1, das auf dem Konzept der Rürup-Kommission beruht,soll die Alterssicherung nach dem sog. „Drei-Schichten-Modell“ erfolgen2. Demnach besteht dieAlterssicherung aus der Basisvorsorgung (1. Schicht), der Zusatzversorgung (2. Schicht) undden Kapitalanlagen...

In the model world with overlapping generations and uncertain life expectancy indi-viduals can live for a maximum of two periods. Only one part of each generation sur-vives the working phase and lives to enjoy retirement. The other part dies after the first half of life. Within this framework it...

Seit der Rentenreform 2001 untersucht das DIA-Rentenbarometerkontinuierlich die Einstellungen der Öffentlichkeit zur gefördertenAltersvorsorge, aber auch zur Altersabsicherung allgemein ...

In this paper, the extent and determinants of coverage in the Swiss occupationalpension scheme (second pillar) and private savings scheme (third pillar) are analysed withdata from the Swiss Labour Force Survey. Estimates for coverage in the second pillar (whichis income-dependent) has, in total,...