Results 221 to 230 of about 7,975 (258)
Some of the next articles are maybe not open access.
Pension systems in integrated capital markets
Topics in Economic Analysis & Policy, 2001Abstract The paper studies the effects on factor prices and welfare of the integration in a perfect world capital market of countries that differ in the degree of funding of their pension systems. It focuses on two large economies running respectively a pay-as-you-go and a fully funded pension system and it first analyzes the open ...
openaire +2 more sources
Pension Funding and Human Capital
SSRN Electronic Journal, 2011In this paper we analyze the consequences of pension funding in a general equilibrium model of both formal schooling decisions and on-the-job human capitalformation a la Heckman, Lochner and Taber (1998). Our focus lies on the distortive and redistributive effects of a Bismarckian pension system as well as the macroeconomic and welfare consequences of ...
openaire +1 more source
Allocating Shareholder Capital to Pension Plans
Journal of Applied Corporate Finance, 2006This article discusses the corporate challenge of providing retirement income to employees while limiting the costs and risks of pension plans to the companies themselves by addressing five main questions: What are the major issues and challenges surrounding pensions?
openaire +2 more sources
Later pensions, lower social capital?
2022Increases in working at older ages, linked to later ages at which public pensions are paid, have been shown to adversely affect individuals' physical and mental health and to reduce overall wellbeing. This study shows that later retirement also reduces social capital, affecting volunteering and caring activities.
Alessandro Cusimano +2 more
openaire +1 more source
PAYG pension systems with capital mobility
International Tax and Public Finance, 2006This paper studies the design of an optimal pension scheme in an OLG and open economy model. The pension scheme provides a flat rate benefit and is based on the PAYG principle. It thus combines inter- and intra-generational redistribution. In this setting a number of symmetric economies are connected by an open and perfect capital market.
Pestieau, Pierre +2 more
openaire +1 more source
Pensions: Corporate Finance and Capital Markets
SSRN Electronic Journal, 2005Because a significant portion of corporate financing is implicitly handled through pension vehicles, pensions are a quite important part of corporate finance and corporate financial policy. Yet many aspects of the interaction between pensions and corporate finance are imperfectly understood at both the theoretical and empirical level.
J. Michael Orszag, Neha Sand
openaire +1 more source
Pension Contributions and Capital Accumulation
2007In recent times, much attention has been given to the long-run macroeconomic and intergenerational redistribution effects of public pension reform. It is well recognized that the pay-as-you-go system is not attractive when the rate of population growth is declining in an ageing society. However, the movement from pay-as-you-go financing to full funding
openaire +1 more source
Aging, Pension Reform, and Capital Flows: [PDF]
, 2004 We present a quantitative analysis of the effects of population aging and pension reform on international capital markets. First, demographic change alters the time path of aggregate savings within each country. Second, this process may be amplified when a pension reform shifts old-age provision towards more pre-funding.
Börsch-Supan, Axel +2 more
openaire
Pension Funding and Capital Market Development
SSRN Electronic Journal, 2010This paper provides evidence that a country’s pension system is an important determinant for the development of its capital markets. Employing a unique event list of 87 pension funding reforms in 57 countries between 1976 and 2007, we find that pension funding reforms lead to larger stock and corporate bond markets relative to the time before the ...
Jörg Rocholl, Taro Niggemann
openaire +1 more source