wow-inequalities/02-data/intermediate/wos_sample/264519f58ca3353eb205255f2ef511f6-buyse-tim-and-heyle/info.yaml

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2023-09-28 14:46:10 +00:00
abstract: 'We study the effects of pension reform on hours worked, human capital,
income and welfare in an open economy populated by four overlapping
generations: three active generations (the young, the middle aged and
the older) and one generation of retired. Within each generation we
distinguish individuals with high, medium or low ability to build human
capital. Our simulation results prefer a pay-as-you-go pension system
with a particular earnings-related linkage above a fully-funded private
system. This pay-as-you-go system conditions pension benefits on past
individual labor income, with a high weight on labor income earned when
older and a low weight on labor income earned when young. Uncorrected,
however, such a system implies welfare losses for current low-ability
generations and rising inequality. Complementing or replacing it by
basic and/or minimum pension components is negative for aggregate
employment and welfare. Better is to maintain the tight link between
individual labor income and the pension also for low-ability
individuals, but to strongly raise their replacement rate. An additional
correction improving the welfare of low-ability individuals would be to
maintain for these individuals equal weights on past labor income.'
affiliation: 'Buyse, T (Corresponding Author), Univ Ghent, SHERPPA, B-9000 Ghent,
Belgium.
Buyse, Tim; Heylen, Freddy; Van de Kerckhove, Renaat, Univ Ghent, SHERPPA, B-9000
Ghent, Belgium.
Res Fdn Flanders FWO, Brussels, Belgium.'
author: Buyse, Tim and Heylen, Freddy and Van de Kerckhove, Renaat
author-email: 'Tim.Buyse@UGent.Be
Freddy.Heylen@UGent.Be'
author_list:
- family: Buyse
given: Tim
- family: Heylen
given: Freddy
- family: Van de Kerckhove
given: Renaat
da: '2023-09-28'
doi: 10.1017/S1474747215000281
eissn: 1475-3022
files: []
issn: 1474-7472
journal: JOURNAL OF PENSION ECONOMICS \& FINANCE
keywords: 'Employment by age; retirement; pension reform; heterogeneous abilities;
overlapping generations'
keywords-plus: SOCIAL-SECURITY; GROWTH; INEQUALITY; POLICY; DECISIONS
language: English
month: APR
number: '2'
number-of-cited-references: '41'
orcid-numbers: Buyse, Tim/0000-0002-4769-5888
pages: 144-172
papis_id: 5a32f099f6cc0010a56164bfedb0a6a3
ref: Buyse2017pensionreform
times-cited: '9'
title: Pension reform in an OLG model with heterogeneous abilities
2023-10-01 08:15:07 +00:00
type: article
2023-09-28 14:46:10 +00:00
unique-id: WOS:000396831900002
usage-count-last-180-days: '5'
usage-count-since-2013: '58'
volume: '16'
web-of-science-categories: Business, Finance; Economics
year: '2017'