Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/185081 
Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 11621
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
We analyze the consumption and wealth inequality in an OLG model with mandatory pension systems. Our framework features within cohort heterogeneity of endowments and heterogeneity of preferences. We allow for population aging and gradual decline in TFP growth. We show four main results. First, increasing longevity translates to substantial increases in aggregate consumption inequality and wealth inequality. Second, a pension system reform from a defined benefit to a defined contribution works to reinforce consumption inequality and reduce wealth inequality. Third, minimum pension benefits are able to partially counteract an increase in inequality introduced by the defined contribution system, at a fiscal cost. Fourth the minimum pension benefit guarantee mostly addresses the sources of inequality which stem from differentiated endowments rather than those which stem from heterogeneous preferences.
Schlagwörter: 
consumption
wealth
inequality
longevity
defined contribution
defined benefit
JEL: 
H55
E17
C60
C68
E21
D63
Dokumentart: 
Working Paper

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