The objective of this paper is to analyze the welfare effects of raising the retirement age. With aging populations, in …, such policy necessitates some welfare deterioration. This could be outweighed by lower taxation (defined benefit schemes … in which we analyze welfare effects of extending the retirement age under PAYG defined benefit, PAYG defined contribution …

significantly affect both the size and the sign of the macroeconomic and welfare measures of policy effects with the order of …

reform seems to be efficient in terms of welfare and enhances economic performance. Comparing the welfare of various closures … we find that while labor taxation yields relatively higher welfare gain, public debt closure involves least need for the …

changes implemented in 2011 and all of the proposed reform scenarios from 2013 are detrimental to welfare. The effects on … findings are robust to time inconsistency. The shortsightedness of the governments imposes welfare costs. …

capital decrease and wages increase with adverse welfare consequences for current middle aged asset rich agents. This paper … strong effects. Under these adjustments maximum welfare losses of demographic change for households alive in 2010 are reduced …

with falling rates of return to capital and increasing wages. This decreases welfare for middle aged asset rich households … formation in combination with an increase in the retirement age has strong implications for economic aggregates and welfare, in … particular in the open economy. These adjustments reduce the maximum welfare losses of demographic change for households alive in …

with falling rates of return to capital and increasing wages. This decreases welfare for middle aged asset rich households … formation in combination with an increase in the retirement age has strong implications for economic aggregates and welfare, in … particular in the open economy. These adjustments reduce the maximum welfare losses of demographic change for households alive in …

with falling rates of return to capital and increasing wages. This decreases welfare for middle aged agents with assets … retirement age has strong effects. Under these adjustments maximum welfare losses of demographic change for households alive in …

with falling rates of return to capital and increasing wages. This decreases welfare for middle aged asset rich households … formation in combination with an increase in the retirement age has strong implications for economic aggregates and welfare, in … particular in the open economy. These adjustments reduce the maximum welfare losses of demographic change for households alive in …