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Designing a linear pension scheme with forced savings and wage heterogeneity

CREMER, Helmuth; DE DONDER, Philippe; MALDONADO, Dario; … - Center for Operations Research and Econometrics (CORE), … - 2006

This paper studies the optimal linear pension scheme when society consists of rational and myopic individuals. Myopic individuals have, ex ante, a strong preference for the present even though, ex post, they would regret not to have saved enough. While rational and myopic persons share the same...

Persistent link: https://www.econbiz.de/10005008195

Interaction of defined benefit pension plans and social security

PESTIEAU, Pierre; POSSEN, Uri - Center for Operations Research and Econometrics (CORE), … - 2008

This paper explores the shift from defined benefit to defined contribution pension plans when the payout rate from social security is set optimally. This paper shows that when employees are receiving more of their private pensions from defined contribution plans one should be raising the payout...

Persistent link: https://www.econbiz.de/10005008374

Prodigality and myopia. Two rationales for social security.

PESTIEAU, Pierre; POSSEN, Uri - Center for Operations Research and Econometrics (CORE), … - 2008

Among the rationales for social security, there is the fact that some people have to be forced to save. To explain undersaving, rational prodigality and hyperbolic preferences are often cited but treated separably. In this paper we study those two particular behaviors that lead to forced saving...

Persistent link: https://www.econbiz.de/10005008418

Overlapping Generations Models of General Equilibrium

Geanakoplos, John - Cowles Foundation for Research in Economics, Yale University - 2008

The OLG model of Allais and Samuelson retains the methodological assumptions of agent optimization and market clearing from the Arrow-Debreu model, yet its equilibrium set has different properties: Pareto inefficiency, indeterminacy, positive valuation of money, and a golden rule equilibrium in...

Persistent link: https://www.econbiz.de/10005010139

Reforming Social Security with Progressive Personal Accounts

Geanakoplos, John; Zeldes, Stephen P. - Cowles Foundation for Research in Economics, Yale University - 2008

security) that pays its owner one inflation-corrected dollar during every year of life after his statutory retirement date …, multiplied by the economy wide average wage at the retirement date and (2) households would buy their new PAAWs each year with …

Persistent link: https://www.econbiz.de/10005010140

Is Social Security behind the Collapse of Personal Saving?

Caliendo, Frank N. - CESifo - 2009

This paper considers the quantitative role of growth in the size of the social security program in contributing to the collapse of personal saving in the U.S. over the last few decades. Using a calibrated, general equilibrium life-cycle model this paper shows that social security may not be to...

Persistent link: https://www.econbiz.de/10005010144

Examining the interaction between saving and contributions to Personal Pension Plans. Evidence from the BHPS

Rossi, Mariacristina - Centre for Research on Pensions and Welfare Policies … - 2006

the determinants of the amount saved in conventional forms and for retirement purposes with different estimation …

Persistent link: https://www.econbiz.de/10005012777

Labor Supply Effects of the Recent Social Security Benefit Cuts: Empirical Estimates Using Cohort Discontinuities

Mastrobuoni, Giovanni - Centre for Research on Pensions and Welfare Policies … - 2006

Retirement Age (NRA) of two months per year for cohorts born in 1938 and after. These cohorts began reaching retirement age in … 2000. This paper studies the effects of these benefit cuts on recent retirement behavior. The evidence strongly suggests … that the mean retirement age of the affected cohorts has increased by about half as much as the increase in the NRA. If …

Persistent link: https://www.econbiz.de/10005012781

The Effects of Immigration Inflows on the Sustainability of the Italian Welfare States

Moscarola, Flavia Coda - Centre for Research on Pensions and Welfare Policies … - 2001

This paper implements a set of generational accounts to estimate the impact of immigration on the sustainability of the Italian welfare state. Italians’ net tax-age profiles are reconstructed on the basis of surveys; most of the immigrants’ net tax-age profiles are reconstructed indirectly....

Persistent link: https://www.econbiz.de/10005012811

Social Security Systems and the Distribution of Income: an Application to the Italian Case

Borella, Margherita - Centre for Research on Pensions and Welfare Policies … - 2001

This paper analyses the distribution of pensioners’ income under different Social Security systems. The work focuses in particular on the recent reforms undertaken in the Italian Social Security system. Simulations, calibrated on Italian male dependent workers earnings histories, show that the...

Persistent link: https://www.econbiz.de/10005012814