Over the past two decades, many Latin American countries have expanded the economic protection of older adults by developing non-contributory pensions or making eligibility rules more flexible. These policies have addressed long-standing coverage gaps in Latin American pension systems and...

When markets are incomplete, social security can partially insure against idiosyncratic and aggregate risks. We incorporate both risks into an analytically tractable model with two overlapping generations. We derive the equilibrium dynamics in closed form and show that joint presence of both...

This paper seeks to estimate the distributive impact of the taxes and other fiscal contributions that finance social security in Brazil. Making a certain number of strong hypotheses relative to the fiscal incidence of social security financing, we compute a measure of incidence that aggregates...

This paper investigates how demographic change affects the financial sustainability of apay-as-you-gosocialsecuritysysteminanenvironmentwithcollectivebargainingonthe labor market. Partial equilibrium analysis shows that the contribution rate or the benefit level decreases, if the old-age...

The aim of the article is to present the social insurance of farmers in Poland and Lithuania. In the study, the following research methods were used: the descriptive method, a literature review, statistical analysis, and an economic analysis of the law. On the basis of the study results, it was...

We propose a unified framework to measure the effects of different reforms of the pension system on retirement ages and macroeconomic indicators in the face of demographic change. A rich overlapping generations (OLG) model is built and endogenous retirement decisions are explicitly modeled...