Title | Reforming retirement age in DB and DC pension systems in an aging OLG economy with heterogenous agents |
Publication Type | Journal Article |
Year of Publication | 2016 |
Authors | Tyrowicz, J, Makarski, K, Bielecki, M |
Journal | IZA Journal of Labor Policy |
Volume | 5 |
Issue | 1 |
Date Published | Jan-12-2016 |
Keywords | Economics, Pensions, Retirement Age, Welfare |
Abstract | We analyze the effects of increasing the retirement age in two economies with overlapping generations and within cohort ex ante heterogeneity. The first economy has a defined benefit system, and the second economy is in transition from a defined benefit to a defined contribution. We find that if increase in the retirement age is phased in a way that allows agents to adjust, welfare is not reduced and welfare effects have a similar magnitude and between-cohort distribution in both types of the pension systems. |
URL | https://izajolp.springeropen.com/articles/10.1186/s40173-016-0067-8 |
DOI | 10.1186/s40173-016-0067-8 |
Short Title | IZA J Labor Policy |
Citation Key | 8553 |