Arbeitspapier
Longevity, Life-Cycle Behavior and Pension Reform
How can public pension systems be reformed to ensure fiscal stability in the face of increasing life expectancy? To address this pressing open question in public finance, we estimate a life-cycle model in which the optimal employment, retirement and consumption decisions of forward-looking individuals depend, inter alia, on life expectancy and the design of the public pension system. We calculate that, in the case of Germany, the fiscal consequences of the 6.4 year increase in age 65 life expectancy anticipated to occur over the 40 years that separate the 1942 and 1982 birth cohorts can be offset by either an increase of 4.34 years in the full pensionable age or a cut of 37.7% in the per-year value of public pension benefits. Of these two distinct policy approaches to coping with the fiscal consequences of improving longevity, increasing the full pensionable age generates the largest responses in labor supply and retirement behavior.
- Language
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Englisch
- Bibliographic citation
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Series: SOEPpapers on Multidisciplinary Panel Data Research ; No. 396
- Classification
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Wirtschaft
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Demographic Trends, Macroeconomic Effects, and Forecasts
Time Allocation and Labor Supply
Retirement; Retirement Policies
Unemployment: Models, Duration, Incidence, and Job Search
- Subject
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Life expectancy
public pension reform
retirement
employment
life-cycle models
consumption
tax and transfer system
Rentenfinanzierung
Rentenreform
Sterblichkeit
Lebenszyklus
Arbeitsangebot
Intertemporale Entscheidung
Schätzung
Deutschland
- Event
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Geistige Schöpfung
- (who)
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Haan, Peter
Prowse, Victoria
- Event
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Veröffentlichung
- (who)
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Deutsches Institut für Wirtschaftsforschung (DIW)
- (where)
-
Berlin
- (when)
-
2011
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Haan, Peter
- Prowse, Victoria
- Deutsches Institut für Wirtschaftsforschung (DIW)
Time of origin
- 2011
Other Objects (12)
Longevity, life-cycle behavior and pension reform
Longevity, life-cycle behavior and pension reform
The design of unemployment transfers: Evidence from a dynamic structural life-cycle model
The design of unemployment transfers: evidence from a dynamic structural life-cycle model
Peter Haan, B. zu Owen, wegen Diebstahls von zwei silbernen Löffeln und einem Brotmesser zu Kirchheim gef., jedoch auf Fürbitte freigel., nachdem er sich anstatt des Rechts für eine Verschreibung entschieden hatte, gelobt, zur Strafe für sein Vergehen 15 fl an dem Herzog zu zahlen, sich künftig wohl zu verhalten, und schwört U. Er stellt ferner 3 Bürgen, die sich verpflichten, ihn im Fall der Übertretung dieser U. binnen 14 Tagen festzunehmen und der Obrigkeit zu überantworten oder, wenn dies nicht geschähe, 100 fl zu bezahlen. Bürgen: Veit Knoll, Lentz Henlin, Gall Bintz, alle von Owen, seine Brüder und Vettern.
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Optimal Social Assistance and Unemployment Insurance in a Life-Cycle Model of Family Labor Supply and Savings
Optimal Unemployment Insurance and Welfare Benefits in a Life-cycle model of Family Labor Supply and Savings
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Longevity, life-cycle behavior and pension reform
Longevity, life-cycle behavior and pension reform
The design of unemployment transfers: Evidence from a dynamic structural life-cycle model
The design of unemployment transfers: evidence from a dynamic structural life-cycle model
Peter Haan, B. zu Owen, wegen Diebstahls von zwei silbernen Löffeln und einem Brotmesser zu Kirchheim gef., jedoch auf Fürbitte freigel., nachdem er sich anstatt des Rechts für eine Verschreibung entschieden hatte, gelobt, zur Strafe für sein Vergehen 15 fl an dem Herzog zu zahlen, sich künftig wohl zu verhalten, und schwört U. Er stellt ferner 3 Bürgen, die sich verpflichten, ihn im Fall der Übertretung dieser U. binnen 14 Tagen festzunehmen und der Obrigkeit zu überantworten oder, wenn dies nicht geschähe, 100 fl zu bezahlen. Bürgen: Veit Knoll, Lentz Henlin, Gall Bintz, alle von Owen, seine Brüder und Vettern.
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Optimal Social Assistance and Unemployment Insurance in a Life-Cycle Model of Family Labor Supply and Savings
Optimal Unemployment Insurance and Welfare Benefits in a Life-cycle model of Family Labor Supply and Savings
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Longevity, life-cycle behavior and pension reform
Longevity, life-cycle behavior and pension reform
The design of unemployment transfers: Evidence from a dynamic structural life-cycle model
The design of unemployment transfers: evidence from a dynamic structural life-cycle model
Peter Haan, B. zu Owen, wegen Diebstahls von zwei silbernen Löffeln und einem Brotmesser zu Kirchheim gef., jedoch auf Fürbitte freigel., nachdem er sich anstatt des Rechts für eine Verschreibung entschieden hatte, gelobt, zur Strafe für sein Vergehen 15 fl an dem Herzog zu zahlen, sich künftig wohl zu verhalten, und schwört U. Er stellt ferner 3 Bürgen, die sich verpflichten, ihn im Fall der Übertretung dieser U. binnen 14 Tagen festzunehmen und der Obrigkeit zu überantworten oder, wenn dies nicht geschähe, 100 fl zu bezahlen. Bürgen: Veit Knoll, Lentz Henlin, Gall Bintz, alle von Owen, seine Brüder und Vettern.
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Optimal Social Assistance and Unemployment Insurance in a Life-Cycle Model of Family Labor Supply and Savings
Optimal Unemployment Insurance and Welfare Benefits in a Life-cycle model of Family Labor Supply and Savings
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings
Optimal social assistance and unemployment insurance in a life-cycle model of family labor supply and savings