We utilize the analytical construct of a stochastic supply function to provide an aggregate representation of a finite collection of standard deterministic supply functions. We introduce a consistency postulate for a stochastic supply function that may be satisfied even if no underlying...

We examine how group-specific differences in reservation wage, arising due to asymmetries in social entitlements, impact distribution via the joint determination of class conflict between workers and employers, and ‘ethnic’ conflict among workers. We model a two-dimensional contest, where...

The object of this paper is to examine the impact of type of pension scheme on retirement behaviour. The well-documented decline in the labour-force participation of older women and older men (in particular) is common to most industrialised countries. The proportion of men aged 55 to 64 in...

This report surveys a dozen international comparative studies of poverty, income distribution and the elderly in OECD countries. It updates a previous Department of Social Security report — Whiteford and Kennedy, 1995, based on data from the mid- to late-1980s — including information up to...

This paper surveys a dozen international comparative studies of poverty, income distribution and older people in industrialized countries using data up to the mid-1990s. It addresses a series of questions. At what level are the incomes of the elderly relative to the population as a whole? How...

This paper surveys a dozen international comparative studies of poverty, income distribution and older people in industrialized countries using data up to the mid-1990s. It addresses a series of questions. At what level are the incomes of the elderly relative to the population as a whole? How...

While personal-pension mis-selling dominated the headlines, just as costly was the over-compensation offered to younger workers to contract out of the state scheme into personal pensions. The proposal for age-related rebates outlined in this book was later taken up by the government.

An attempt to unravel the complexities of pension policy in the UK, including financial, fiscal, labour-market and income-distribution analyses of the retirement-income system. This book, drawing on five years’ IFS research, was widely praised. A Financial Times editorial observed that ‘The...