This study uses Fehr et al. [Fehr, H., Jokisch, S., & Kotlikoff, L. J. (2004a). The role of immigration in dealing with the developed world's demographic transition. FinanzArchiv, 60, 296-324; Fehr, H., Jokisch, S., & Kotlikoff, L. J. (2005). The developed world's demographic transition--the roles...

The present paper quantifies the revenue, distributional and efficiency effects of the recent reform of pension taxation in Germany. The starting point is the new legislation, which has introduced a switch to the deferred taxation of retirement benefits starting in 2005. We compare this reform...

This paper develops a dynamic, life-cycle, general equilibrium model to study the interdependent demographic, fiscal, and economic transition paths of China, Japan, the U.S.,and the EU. Each of these countries/regions is entering a period of rapid and significant aging that will require major...

Many reform proposals of the social security systems in various OECD economies suggest to scale down the non-actuarial parts of the pension systems. These reforms have a flavor of increased efficiency at the costs of welfare losses for low-income individuals. Assessing the economic effects, we...

This paper develops a dynamic, life-cycle, general equilibrium model to study the interdependent demographic, fiscal, and economic transition paths of China, Japan, the U.S.,and the EU. Each of these countries/regions is entering a period of rapid and significant aging that will require major...

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This paper examines the distributional and efficiency effects of different debt reduction schemes in Italy. To finance a given deficit reduction path, we introduce the so-called Eurotax and endogenously adjust either the consumption tax rate or lump-sum transfers in order to balance the budget....