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The effects of financing rules in pay-as-you-go pension systems on the life and the business cycle

Scharrer, Christian - 2020

I study the impacts of financing rules for financial surpluses in pay-as-you-go pension systems on the business cycle and the life cycle in a dynamic stochastic large-scale overlapping generations model, where households take the inter-temporal links between contributions and pension benefits...

Persistent link: https://www.econbiz.de/10012253150

Intergenerational Risk Sharing in Time-Consistent Funded Pension Schemes

Westerhout, Ed - 2011

Intergenerational risk sharing by funded pension schemes may increase welfare in an ex ante sense. However, it also suffers from a time inconsistency problem. In particular, young generations may be unwilling to start participating in a pension scheme if this requires them to make huge transfers...

Persistent link: https://www.econbiz.de/10013126863

Chapter 6. Intergenerational Risk Sharing

Beetsma, R.; Romp, W. - In: Handbook of the economics of population aging : Volume 1, (pp. 311-380). 2016

This chapter reviews the literature on intergenerational risk sharing (IRS). We explore to what extent and how a market economy with an appropriate institutional setting can replicate a social planner's solution in models with increasing levels of complexity. In particular, we do this for...

Persistent link: https://www.econbiz.de/10014023478

Fertility and Social Security

Boldrin, Michele - 2008

fertility. What type of model is consistent with this finding? We explore this question using two models of fertility: one by …-age transfers. The effect of increases in government provided pensions on fertility in the Barro and Becker model is very small …, whereas the effect on fertility in the Boldrin and Jones model is sizeable and accounts for between 55 and 65% of the observed …

Persistent link: https://www.econbiz.de/10012770842

How to avoid a pension crisis : a question of intelligent system design

Cigno, Alessandro - 2009

Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...

Persistent link: https://www.econbiz.de/10003936144

How to avoid a pension crisis : a question of intelligent system design

Cigno, Alessandro - 2009

and money in their upbringing. -- Pension reform ; implicit pension taxes and subsidies ; child benefits ; fertility …

Persistent link: https://www.econbiz.de/10003820014

How to Avoid a Pension Crisis : A Question of Intelligent System Design

Cigno, Alessandro - 2010

Conventional pension systems suffer from a design defect, which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The article outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one...

Persistent link: https://www.econbiz.de/10013147651

How to Avoid a Pension Crisis : A Question of Intelligent System Design

Cigno, Alessandro - 2021

Persistent link: https://www.econbiz.de/10013316388

Pensions and fertility : micro-economic evidence

Danzer, Alexander M.; Zyska, Lennard - 2020

This study identifies the causal effect of pension generosity on women's fertility behavior. It capitalizes on Brazil … age by 10% in the short-run. Completed fertility declines by 1.3 children within 20 years after the reform, reducing the … contribution base of the Pay-As-You-Go pension system in the long-run. The fertility response is strongest at higher birth parities …

Persistent link: https://www.econbiz.de/10012193368

Pensions and fertility : micro-economic evidence

Danzer, Alexander M.; Zyska, Lennard - 2020

This study identifies the causal effect of pension generosity on women’s fertility behavior. It capitalizes on Brazil … age by 10% in the short-run. Completed fertility declines by 1.3 children within 20 years after the reform, reducing the … contribution base of the Pay-As-You-Go pension system in the long-run. The fertility response is strongest at higher birth parities …

Persistent link: https://www.econbiz.de/10012194379