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The mix between pay-as-you-go and funded pensions and what demography has to do with it
Praag, Bernard M. S. van; Cardoso, Pedro - 2003
A model is presented that explains the mix between funded and unfunded pension systems. It turns out that total pension and the relative shares of the two systems may be explained and are determined by the population growth rate, technological growth, the time-preference discount rate, that...
Persistent link: https://www.econbiz.de/10011514202
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The sustainability of the pay-as-you-go system with falling birth rates
Praag, Bernard M. S. van; Cardoso, Pedro - 2002
A model is presented that explains the mix between funded and unfunded pension systems. It turns out that total pension and the relative shares of the two systems may be explained and are determined by the population growth rate, technological growth, the time-preference discount rate, the...
Persistent link: https://www.econbiz.de/10011326408
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Broadband Internet and the Stock Market Investments of Individual Investors
Hvide, Hans K.; Meling, Tom; Mogstad, Magne; Vestad, … - 2022
We study the effects of broadband internet use on the investment decisions of individual investors. A public program in Norway provides plausibly exogenous variation in internet use. Our instrumental variables estimates show that internet use causes a substantial increase in stock market...
Persistent link: https://www.econbiz.de/10013492506
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Rates of Return and Early Retirement Disincentives: Evidence from a German Pension Reform
Lüthen, Holger - 2014
Western societies. Starting with cohort 1937, Germany introduced permanent pension deductions for early retirement. This paper … examines the evolution of the profitability of pension contributions against the background of this reform for cohorts 1935 … the reform only cause some part of this trend, with a major part caused by increases in contributions. …
Persistent link: https://www.econbiz.de/10010396730
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Will they take the money and work? An empirical analysis of people's willingness to delay claiming social security benefits for a lump sum
Maurer, Raimond; Mitchell, Olivia S.; Rogalla, Ralph; … - 2015
This paper investigates whether exchanging the Social Security delayed retirement credit, currently paid as an increase in lifetime annuity benefits, for a lump sum would induce later claiming and additional work. We show that people would voluntarily claim about half a year later if the lump...
Persistent link: https://www.econbiz.de/10010481511
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Rates of Return and Early Retirement Disincentives: Evidence from a German Pension Reform
Lüthen, Holger - Verein für Socialpolitik - VfS - 2014
Western societies. Starting with cohort 1937, Germany introduced permanent pension deductions for early retirement. This paper … examines the evolution of the profitability of pension contributions against the background of this reform for cohorts 1935 … the reform only cause some part of this trend, with a major part caused by increases in contributions. …
Persistent link: https://www.econbiz.de/10011163993
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Will they take the money and work? An empirical analysis of people's willingness to delay claiming social security benefits for a lump sum
Maurer, Raimond; Mitchell, Olivia S.; Rogalla, Ralph; … - Research Center SAFE (Sustainable Architecture for … - 2015
This paper investigates whether exchanging the Social Security delayed retirement credit, currently paid as an increase in lifetime annuity benefits, for a lump sum would induce later claiming and additional work. We show that people would voluntarily claim about half a year later if the lump...
Persistent link: https://www.econbiz.de/10011185911
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Will They Take the Money and Work? An Empirical Analysis of People's Willingness to Delay Claiming Social Security Benefits for a Lump Sum
Mitchell, Olivia; Maurer, Raimond; Rogalla, Ralph; … - National Bureau of Economic Research (NBER) - 2014
This paper investigates whether exchanging the Social Security delayed retirement credit (currently paid as an increase in lifetime annuity benefits) for a lump sum would induce later claiming and additional work. We show that people would voluntarily claim about half a year later if the lump...
Persistent link: https://www.econbiz.de/10010951256
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How would 401(k) "Rothification" alter saving, retirement security, and inequality?
Horneff, Vanya; Maurer, Raimond; Mitchell, Olivia S. - 2022
Many nations incentivize retirement saving by letting workers defer taxes on pension contributions, imposing them when retirees withdraw their funds. Using a dynamic life cycle model, we show how 'Rothification' - that is, taxing 401(k) contributions rather than payouts - alters saving,...
Persistent link: https://www.econbiz.de/10013466634
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Do Retirement Savings Increase in Response to Information About Retirement and Expected Pensions?
Dolls, Mathias; Dörrenberg, Philipp; Peichl, Andreas; … - 2018
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. …
Persistent link: https://www.econbiz.de/10011794181