Education, Life Expectancy and Pension Reform

Krieger, Tim; Lange, Thomas

Education, Life Expectancy and Pension Reform

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Date

2012

Authors

Krieger, Tim

Lange, Thomas

Collections

Wirtschaftswissenschaften

Publication type

Journal article

Publication status

Published

Published in

Hacienda pública española ; 2012 (2012), 202. - pp. 31-56. - Instituto de Estudios Fiscales. - ISSN 0210-1173

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 Beveridgean component. We show that such a policy change may discourage human capital investment at the margin and thus reduce the average 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.

Subject (DDC)

330 Economics

Keywords

Social Security, Education, Life Expectancy, Pension Reform, Redistribution

Cite This

ISO 690

KRIEGER, Tim, Thomas LANGE, 2012. Education, Life Expectancy and Pension Reform. In: Hacienda pública española. Instituto de Estudios Fiscales. 2012(202), pp. 31-56. ISSN 0210-1173

BibTex

@article{Krieger2012Educa-49216,
  year={2012},
  title={Education, Life Expectancy and Pension Reform},
  number={202},
  volume={2012},
  issn={0210-1173},
  journal={Hacienda pública española},
  pages={31--56},
  author={Krieger, Tim and Lange, Thomas}
}

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Refereed

Unknown