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Redistributive effects of the US pension system among individuals with different life expectancy

Miguel Sanchez-Romero () and Alexia Prskawetz

The Journal of the Economics of Ageing, 2017, vol. 10, issue C, 51-74

Abstract: We investigate the differential impact that pension systems have on the labor supply and the accumulation of physical and human capital for individuals that differ by their learning ability and levels of life expectancy. Using a general equilibrium model populated by overlapping generations, in which all population groups interact through the pension system, the labor market, and the capital market, we show that the increasing gap in life expectancy by socioeconomic status makes the US pension system progressively more regressive and explains the increasing per capita income gap across ability groups.

Keywords: Human capital; Longevity; Inequality; Life cycle; Social security (search for similar items in EconPapers)
JEL-codes: E24 J10 J18 H55 (search for similar items in EconPapers)
Date: 2017
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http://www.sciencedirect.com/science/article/pii/S2212828X17300075

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Working Paper: Redistributive effects of the US pension system among individuals with different life expectancy (2017) Downloads
Working Paper: Redistributive effects of the US pension system among individuals with different life expectancy (2017) Downloads
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The Journal of the Economics of Ageing is currently edited by D.E. Bloom, A. Sousa-Poza and U. Sunde

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