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This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic...
Persistent link: https://www.econbiz.de/10012895118
Studying the age-dimension of the probability distribution of pensions while assuming steadily rising real wages and time-invariant benefit-rules, two factors play important roles: (i) the weight of the wages in indexation of benefits in progress; (ii) the longevity gap. Factor (i) acts against...
Persistent link: https://www.econbiz.de/10014452017
assumptions (constant or according to Lee-Carter mortality improvements) to calculate the maximum mortality decrease a scheme can …
Persistent link: https://www.econbiz.de/10013004273
Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … workers decide on their own individual savings, that the fully-funded occupational system is decided upon by the age cohort of … pension savings are the only sources of capital supply. When capital supply equals demand from industry there is equilibrium …
Persistent link: https://www.econbiz.de/10012154725
Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings … workers decide on their own individual savings, that the fully-funded occupational system is decided upon by the age cohort of … pension savings are the only sources of capital supply. When capital supply equals demand from industry there is equilibrium …
Persistent link: https://www.econbiz.de/10012160984
Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory … individual savings, that the fully funded occupational system is decided upon by the age cohort of the median worker and that … decisions is a Pareto-equilibrium. Nowadays most of capital supply stems from individual and institutionalised pension savings …
Persistent link: https://www.econbiz.de/10011870742
concentration; an insurance cycle; pricing of mortality uncertainty and the growth in the impaired lives market …
Persistent link: https://www.econbiz.de/10013148788
to evaluate the adequacy of retirement savings. We find first that the specification of the model's asset structure …
Persistent link: https://www.econbiz.de/10012213993
provides elderly assistance and is a source of savings for long-term investment. The pension systems in SSA, however, are …
Persistent link: https://www.econbiz.de/10013349380
supplementary savings needed to cover it. The issue of pension system income adequacy is first discussed, and the forecasted and … defined and the size of the gap is analyzed. The amount of savings needed to cover the pension gap is then computed. How … changes in the values of particular parameters influence the amount of monthly savings needed to cover the individual pension …
Persistent link: https://www.econbiz.de/10011689455