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Retirement Systems, Demography, Happiness and Welfare Redistribution

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Author Info
Barbara Ferrari ()
Luigi Mittone ()
Marco Tecilla ()

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Abstract

This research investigates whether an equity improvement within retirement-systems domain may positively influence demography, people’s happiness and their financial conditions. In particular, a fertility-boosting policy has been tested, acting on the contributory rate. This project has been carried out by using software simulation and with specific Agent-based Computational Economics (ACE) methodology. Two virtual worlds have been created, in order to try to reproduce Italian society. In the first model, (W1), vertical equity has been improved, while in the second one, (W2), it is has not. Five further variants of these two worlds have been produced by altering some parameters, in order to test our hypothesis through several simulations. The research outcomes prove that an equity improvement can positively influence demographic trends, can increase the level of happiness in the society, and can grant a more homogeneous welfare redistribution.

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Publisher Info
Paper provided by Computable and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia in its series CEEL Working Papers with number 0808.

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Date of creation: 2008
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Handle: RePEc:trn:utwpce:0808

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Web page: http://www-ceel.economia.unitn.it
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For technical questions regarding this item, or to correct its listing, contact: (Marco Tecilla).

Related research
Keywords: Retirement systems; demography; happiness; wealth distribution; equity; software simulation; Agent Based Computational Economics;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Sendhil Mullainathan & Richard H. Thaler, 2000. "Behavioral Economics," NBER Working Papers 7948, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  2. Daniel Kahneman & Alan B. Krueger, 2006. "Developments in the Measurement of Subjective Well-Being," Journal of Economic Perspectives, American Economic Association, vol. 20(1), pages 3-24, Winter. [Downloadable!] (restricted)
  3. Daniel Kahneman & Alan B. Krueger & David Schkade & Norbert Schwarz & Arthur A. Stone, 2006. "Would You Be Happier If You Were Richer? A Focusing Illusion," Working Papers 77, Princeton University, Department of Economics, Center for Economic Policy Studies.. [Downloadable!]
  4. Leigh Tesfatsion, 2006. "Agent-Based Computational Economics: A Constructive Approach to Economic Theory," Computing in Economics and Finance 2006 527, Society for Computational Economics.
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This page was last updated on 2009-10-20.

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