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作者：Hong, Jay H.; Rios-Rull, Jose-Victor
作者单位：University of Pennsylvania; University of Rochester
摘要：In this paper we ask whether an aspect of social security, namely its role as a provider of insurance against uncertain life spans, is welfare enhancing. To this end we use an OLG model where agents have a bequest motive and differ in sex and marital status and where families are formed and destroyed and their characteristics evolve (exogenously) according to U.S. demographic patterns of marriage, divorce, fertility and mortality. We compare the implications of social security under a variety ...
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作者：Attanasio, Orazio; Kitao, Sagiri; Violante, Giovanni L.
作者单位：University of London; University College London; Centre for Economic Policy Research - UK; New York University
摘要：How sustainable are the current social security systems in the developed economies, given the projected demographic trends? The most recent literature has answered this question through dynamic general-equilibrium models in a closed-economy framework. This paper provides a new quantitative benchmark of analysis for this question represented by a two-region model (South and North) of the world economy where capital flows across regions. The timing and the extent of the demographic transition-an...
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作者：Kennickell, Arthur B.
作者单位：Federal Reserve System - USA
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作者：Krueger, Dirk; Ludwig, Alexander
作者单位：University of Mannheim; Center for Economic & Policy Research (CEPR); University of Pennsylvania; National Bureau of Economic Research
摘要：This paper employs a multi-country large-scale Overlapping Generations model with uninsurable labor productivity and mortality risk to quantify the impact of the demographic transition towards an older population in industrialized countries on world-wide rates of return, international capital flows and the distribution of wealth and welfare in the OECD. We find that for the U.S. as an open economy, rates of return are predicted to decline by 86 basis points between 2005 and 2080 and wages incr...
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作者：Bloom, David E.; Canning, David; Mansfield, Richard K.; Moore, Michael
作者单位：Harvard University; Harvard T.H. Chan School of Public Health; Yale University; Queens University Belfast
摘要：In theory, improvements in healthy life expectancy should generate increases in the average age of retirement, with little effect on savings rates. In many countries, however, retirement incentives in social security programs prevent retirement ages from keeping pace with changes in life expectancy, leading to an increased need for life-cycle savings. Analyzing a cross-country panel of macroeconomic data, we find that increased longevity raises aggregate savings rates in countries with univers...
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作者：Laitner, John
作者单位：University of Michigan System; University of Michigan
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作者：Wolff, Edward N.
作者单位：New York University
摘要：The paper compares the well-being of the baby boom generation (ages 40-55) in 2001 with the same age group in 1983. I find little evidence that their relative position deteriorated over the period. By some indicators, this generation has seen an improvement. In terms of income, the 40-55 age group was at about the same relative position in 2001 as in 1983. In terms of conventional wealth, there was some slippage over the period. In terms of mean augmented wealth (net worth plus pension and Soc...
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作者：Leahy, John
作者单位：New York University
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作者：Lucas, Deborah
作者单位：Northwestern University; National Bureau of Economic Research
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作者：Storesletten, Kjetil
作者单位：University of Oslo
