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The purpose of this study is to explore the effects of exogenous social security system parameters on welfare. The set up is an overlapping generations economy, with skills heterogeneity, which distinguishes consumers between high and low skilled. The lowskilled receive an extra supplement...
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the bequest motive is strong, then an increase in the social security tax raises the bequests left by altruistic parents … security tax could result in a reduction of the bequests left by altruistic parents under some conditions on the attitude of …
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This paper studies the redistribution and welfare effects of increasing the flexibility of individual pension take-up. We use an overlapping-generations model with Beveridgean pay-as-you-go pensions, where individuals differ in ability and life span. We find that introducing flexible pension...
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security. Here, state-dependent utility under mortality risk proves to generate parents’ peculiar indifference curve regarding … parents’ decision regarding intergenerational risk sharing with children … insurance theory under lifetime uncertainty, where the current position in social security contract could adversely affect …
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