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

Miguel Sánchez-Romero and Alexia Fürnkranz-Prskawetz

No 03/2017, ECON WPS - Working Papers in Economic Theory and Policy from TU Wien, Institute of Statistics and Mathematical Methods in Economics, Economics Research Unit

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. Our analysis is calibrated to the US economy 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. Within our framework we analyze the redistributive and macroeconomic effects of a progressive versus a flat replacement rate of the pension system.

Keywords: Human capital; Longevity; Inequality; Life cycle; Social Security (search for similar items in EconPapers)
JEL-codes: E24 H55 J10 J18 (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-age, nep-dge, nep-lab and nep-mac
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Citations: View citations in EconPapers (7)

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Related works:
Journal Article: Redistributive effects of the US pension system among individuals with different life expectancy (2017)
Working Paper: Redistributive effects of the US pension system among individuals with different life expectancy (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:tuweco:032017

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