Consumption Taxation to Finance Pension Payments

The Welfare Effects of Switching from Consumption Taxation to Inflation Taxation in Iran’s Economy

The net effects of switching from consumption taxation to inflation taxation on resource allocation and welfare crucially depend on production externalities. With elastic labor supply, raising inflation taxation decreases leisure, but increases the levels of real consumption, capital, and output. Moreover, this tax switch has two opposing effects on the level of real money balances: A positive ...

Taxation Reform in China's Public Finance

Discussion Papers in Accounting and Finance Pension Scheme Asset Allocation with Taxation Arbitrage, Risk Sharing and Default Insurance Professor

The asset allocation is a crucial decision for pension funds, and this paper analyses the economic factors which determine this choice. The analysis proceeds on the basis that, in the absence of taxation, risk sharing and default insurance, the asset allocation between equities and bonds is indeterminate and governed by the risk-return preferences of the trustees and the employer. If the employ...

Myopia, pension payments and retirement: an experimental approach

The behavioral economics literature on time discounting has suggested that individuals may systematically undersave when planning for retirement. Hence, pension systems have developed to enable, or indeed force, individuals to save more for retirement. Of course, the saving aspect and the timing of retirement are connected, in the sense that the expected length of retirement determines what is ...

Effects of Pension Payments on Savings in the Philippines

This paper attempts to provide some empirical evidence on the effects of social security on savings mobilization of households. While it has been empirically established in developed countries that pension system has important effects on savings, no important study has been established yet in the Philippines. Following Feldstein’s model, consumption and savings function using a household survey...