Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/144704
Authors: 
Király, Balázs
Simonovits, András
Year of Publication: 
2016
Series/Report no.: 
IEHAS Discussion Papers MT-DP - 2016/6
Abstract: 
Mandatory pension systems only partially replace old-age income, therefore the government also operates a voluntary pension system, where savings are matched by government grants. Accounting for the resulting tax expenditure, our models describe the income flow from shortsighted to farsighted workers. 1. In rational models, explicit results are obtained, showing the limited learning of shortsighted workers. 2. In agent-based models, this learning is improved and this raises the shortsighted workers' saving and reduces perverse income redistribution.
Subjects: 
life-cycle savings
overlapping generations
mandatory pensions
voluntary pensions
agent-based models
JEL: 
H55
D91
ISBN: 
978-615-5594-35-9
Document Type: 
Working Paper

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