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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/19032| Title: | Risk sharing and efficiency implications of progressive pension arrangements |
| Keywords: | H55 J26 ddc:330 pension reform idiosyncratic labor income uncertainty Rentenreform Gesetzliche Rentenversicherung Sozialversicherungsbeitrag Steuerprogression Wohlfahrtseffekt Versicherungsökonomik Theorie |
| Issue Date: | 16-Oct-2013 |
| Publisher: | |
| 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. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/19032 |
| Other Identifiers: | http://hdl.handle.net/10419/19032 ppn:503701998 |
| Appears in Collections: | EconStor |
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