pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between … state the importance of PAYG pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate …

public pension payments. This reform did not change the level of pensions, but only provided information to individuals about … direct way to increase public pensions, increase after receiving the letter. …

We present new empirical evidence on the distribution of earnings, income and wealth among entrepreneurs in Germany. We …-scale overlapping-generations model that can replicate these findings. As an application, we compute the equilibrium effects of a reform … Germany does not help to improve its fiscal sustainability, and only an increase in the retirement age to 70 years will help …

equilibrium involving an old-age pensions system, partly financed by PAYG and partly by a capital reserve system, and what will be …

, Germany, Italy, the Netherlands, Sweden, Switzerland and the UK. Exploiting within-country variation, we show that a one …

until 2050. To quantify the effects on pensions, taxes and social contributions, we use an overlapping generations model …-the-job training. A passive fiscal strategy would be very costly. A comprehensive reform, including an increase in the effective …

importance of unfunded, state pensions differs. We estimate how the optimal level of unfunded, state pensions depends on rate of … is rapid and unfunded pensions are currently generous. …

We present the first evidence on public attitudes towards two prominent euro area reform proposals (European … of a randomized survey experiment in Germany. We find that there is a low willingness among German voters to accept …, cosmopolitanism, political preferences and income are important predictors of support for the reform proposals. We also show that …