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Inequality in an OLG economy with heterogeneous cohorts and pension systems

Tyrowicz, Joanna; Makarski, Krzysztof; Bielecki, Marcin - 2018

We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features within cohort heterogeneity of endowments and heterogeneity of preferences. We allow for population aging and gradual decline in TFP growth. We show four main results. First,...

Persistent link: https://www.econbiz.de/10011876189

Inequality in an OLG economy with heterogeneous cohorts and pension systems

Tyrowicz, Joanna; Makarski, Krzysztof; Bielecki, Marcin - 2018

Persistent link: https://www.econbiz.de/10011872162

The Pension Option in Labor Insurance and Its Effect on Household Saving and Consumption : Evidence from Taiwan

Chen, Hua - 2014

Starting in 2009, the Labor Insurance (LI) program in Taiwan has allowed workers to choose between pension old-age benefits and one-time old-age benefits. The introduction of the pension option not only mitigates longevity risk for workers but also provides a higher expected present value of...

Persistent link: https://www.econbiz.de/10013066033

Optimal savings for retirement : the role of individual accounts and disaster expectations

Le Blanc, Julia; Scholl, Almuth - 2011

' savings for retirement. We consider voluntary accounts as opposed to mandatory accounts with minimum contribution rates. We …

Persistent link: https://www.econbiz.de/10009424907

New figures on unfunded public pension entitlements across Europe : concept, results and applications

Kaier, Klaus; Freudenberg, Christoph - 2013

and researchers. This includes the use to estimate the offset between UPPE and savings (Feldstein 1974). Finally, we show …

Persistent link: https://www.econbiz.de/10009733375

How does maternal pension wealth affect family old-age savings in Germany?

Thiemann, Andreas - 2016

This paper examines how families adjust their private old-age savings in response to a change in individual pension …): 1998, 2003 and 2008. All results indicate that families do not adjust their private old-age savings in response to the … does not crowd-out old-age private savings. Hence, child care pension benefits increase a mother's old-age income without …

Persistent link: https://www.econbiz.de/10011441486

What Makes a Better Annuity?

Scott, Jason S. - 2009

mortality discount sufficient to overcome the cost of creating the contract. Since most existing annuity products, such as …

Persistent link: https://www.econbiz.de/10013160076

Pension reform and wealth inequality : evidence from Denmark

Andersen, Torben M.; Bhattacharya, Joydeep; Grodecka, Anna - 2022

-as-you-go (PAYG) and fully-funded (FF) pension schemes crowd out voluntary retirement saving. They differ because aggregate savings …

Persistent link: https://www.econbiz.de/10013161541

Is Social Security Behind the Collapse of Personal Saving?

Caliendo, Frank - 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/10013157190

Planning and Saving for Retirement

Sulka, Tomasz - 2020

Planning for retirement is difficult, but essential for future financial security. To formally analyse the interplay between planning and self-control, I introduce cognitive costs of formulating a plan into the two-system model of impulse control. The resulting possibility of rational inaction...

Persistent link: https://www.econbiz.de/10012834509