Showing 1 - 10 of 596
Fertility has long been declining in industrialised countries and the existence of public pension systems is considered … which a public pension system depresses fertility. Our theoretical framework highlights that the effect of a public pension … system on fertility works via the impact of contributions in such a system on disposable income as well as via the impact on …
Persistent link: https://www.econbiz.de/10009792218
fertility model that generates an endogenous demographic transition by means of distinguishing between female and male labor. We …
Persistent link: https://www.econbiz.de/10011402633
fertility setting. In the model of a small open economy, higher fertility is associated with a reduction of lifetime labor … supply. The optimum share of fertility-related pensions is always below unity, but generally positive. The former is true … demonstrated that child allowances are equivalent to fertility-related pensions as instruments to achieve an efficient allocation. …
Persistent link: https://www.econbiz.de/10011506226
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
stay on their baseline trajectories (taken from the European Commission’s Debt Sustainability Monitor 2023) under low-fertility …, high-fertility, low-migration and high-migration scenarios. These scenarios are provided in the Commission’s Ageing Report … growth. The effects of the low-fertility scenario kick in only in the very long run and even exceed those of low migration …
Persistent link: https://www.econbiz.de/10015197302
Ýmrohoroðlu, Ýmrohoroðlu and Joines [1995, A life-cycle analysis of Social Security, Economic Theory, vol. 6, 83-114] show that the optimal replacement ratio of the payas-you-go public pension system in the US economy amounts to 30%. We extend their analysis to a model that 1) replicates the...
Persistent link: https://www.econbiz.de/10010477151
We model the optimal reaction of a public PAYG pension system to demographic shocks. We compare the ex-ante first best and second best solution of a Ramsey planner with full commitment to the outcome under simple third best rules that mimic the pension systems observed in the real world. The...
Persistent link: https://www.econbiz.de/10003771791
We construct a tractable discrete-time overlapping generations model of a closed economy and use it to study government redistribution of accidental bequests and private annuities in general equilibrium. Individuals face longevity risk as there is a positive probability of passing away before...
Persistent link: https://www.econbiz.de/10003994548
Within a politico-economic model we first establish three hypotheses: (i) Retirees generally prefer a higher retirement age than workers, whereby just retired individuals prefer the highest retirement age, (ii) in equilibrium the level of the legal retirement age is increasing in longevity and...
Persistent link: https://www.econbiz.de/10011966874
expectancy uses a Bayesian Model Ensemble approach to stochastic mortality modelling to generate forecasts of intergenerationally …
Persistent link: https://www.econbiz.de/10012668785