المستودع الأكاديمي جامعة المدينة

Risk sharing and efficiency implications of progressive pension arrangements

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dc.creator Fehr, Hans
dc.creator Habermann, Christian
dc.date 2005
dc.date.accessioned 2013-10-16T07:02:28Z
dc.date.available 2013-10-16T07:02:28Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19032
dc.identifier ppn:503701998
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19032
dc.description The present paper aims to quantify the welfare effects of progressive pension arrangements in Germany. Starting from a purely contribution-related benefit system, we introduce basic allowances for contributions and a flat benefit fraction. Since our overlapping-generations model takes into account variable labor supply, borrowing constraints as well as stochastic income risk, we can compare the labor supply, the liquidity, and the insurance effects of the policy reform. Our simulations indicate that for a realistic parameter combination an increase in pension progressivity would yield an aggregate efficiency gain of more than 2 percent of resources. However, such a reform would not be implemented because it would not find political support of the currently living generations.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1568
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject H55
dc.subject J26
dc.subject ddc:330
dc.subject pension reform
dc.subject idiosyncratic labor income uncertainty
dc.subject Rentenreform
dc.subject Gesetzliche Rentenversicherung
dc.subject Sozialversicherungsbeitrag
dc.subject Steuerprogression
dc.subject Wohlfahrtseffekt
dc.subject Versicherungsökonomik
dc.subject Theorie
dc.title Risk sharing and efficiency implications of progressive pension arrangements
dc.type doc-type:workingPaper


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