On financing retirement with an aging population
نویسندگان
چکیده
منابع مشابه
On Financing Retirement with an Aging Population
___________________________________________________________________ A problem facing the United States is financing retirement consumption as its population ages. Policy analysts increasingly advocate savings-for-retirement systems, but are concerned with insufficient savings opportunities with limited government debt. This concern is unwarranted. First, there is more productive capital than co...
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This paper analyzes the effects of population aging on the preferred legal retirement age. What is revealed is the crucial role that the indirect ’macro’ effects resulting from a change in the legal retirement age play in the optimal decision. Two Social Security systems are studied. Under a defined contribution scheme aging lowers the preferred ∗All correspondence to Francisco Lagos. The autho...
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This paper analyzes the effects of population aging on the preferred legal retirement age. What is revealed is the crucial role that the indirect ‘macro’ effects resulting from a change in the legal retirement age play in the optimal decision. Two social security systems are studied. Under a defined contribution scheme, aging lowers the preferred legal retirement age. However, under a defined p...
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Over recent decades, most developed countries have experienced a fall in fertility and an increase in longevity which have led to a significant increase in the weight of elderly on the population and a decrease in the number of working-age people per elderly population. Economists and politicians are concerned about the aging population process and the need to introduce policy reforms such as f...
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We study optimal redistribution in life-cycle economy with privately observed permanent permanent earning ability types and mortality types. The novel feature of our analysis is that earning ability and mortality are negatively correlated. We characterize pareto optima and show that efficient allocation must satisfy an inverse euler equation (despite ability types being permanent). Hence, all a...
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ژورنال
عنوان ژورنال: Quantitative Economics
سال: 2017
ISSN: 1759-7323
DOI: 10.3982/qe648