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Pensions, Education and Life Expectancy

Michael Gorski, Tim Krieger and Thomas Lange ()
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Thomas Lange: Ifo institute for economic research & University of Konstanz

No 4, Working Papers CIE from Paderborn University, CIE Center for International Economics

Abstract: In a two-period model with agent heterogeneity we analyze a pension reform toward a stronger link between contributions and benefits (as recently observed in several countries) in a pension system with a Bismarckian and a Beveridgian component. We show that such a policy change reduces the educational level in an economy. The life expectancy differential between skilled and unskilled individuals drives this result. Furthermore, we investigate the consequences on the intragenerational redistribution characteristics of the pension system – in the sense of the number of net-recipients relative to net-payers – as well as welfare effects.

Keywords: social security; education; life expectancy; pension reform; redistribution (search for similar items in EconPapers)
JEL-codes: H55 I21 D39 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2007-03
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http://groups.uni-paderborn.de/wp-wiwi/RePEc/pdf/ciepap/WP04.pdf First version, 2007 (application/pdf)

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