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  • Inequality  (2)
  • 1
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    Vienna: Vienna University of Technology, Institute of Mathematical Methods in Economics
    Publication Date: 2020-01-29
    Description: In this paper we investigate the impact of a reduction in the pension replacement rate on the schooling choice and on inequality. We develop an overlapping generations model in which individuals differ by their life expectancy and in the cost of attending schooling. Individuals optimally choose their consumption path and their educational attainment. Within our framework we first show how many progressive pension systems are ex ante regressive due to the difference in life expectancy across skill groups and, second, we derive the level of progressivity that restores an equal treatment of the pension system across skill groups.
    Keywords: E24 ; J10 ; J18 ; H55 ; ddc:330 ; Human capital ; Longevity ; Inequality ; Life cycle ; Social security ; Pension ; Progressivity
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 2
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    Vienna: Vienna University of Technology, Institute of Mathematical Methods in Economics
    Publication Date: 2020-01-29
    Description: We investigate the differential impact that pension systems have on the labor supply and the accumulation of physical and human capital for individuals that differ by their learning ability and levels of life expectancy. Our analysis is calibrated to the US economy using a general equilibrium model populated by overlapping generations, in which all population groups interact through the pension system, the labor market, and the capital market. Within our framework we analyze the redistributive and macroeconomic effects of a progressive versus a flat replacement rate of the pension system.
    Keywords: E24 ; J10 ; J18 ; H55 ; ddc:330 ; Human capital ; Longevity ; Inequality ; Life cycle ; Social Security
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
    Location Call Number Expected Availability
    BibTip Others were also interested in ...
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