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Trade-Offs in Means Tested Pension Design

Author

Listed:
  • Chung Tran

    () (Research School of Economics, Australian National University and ARC Centre of Excellence in Population Ageing Research, Australian School of Business, University of New South Wales)

  • Alan Woodland

    () (School of Economics and ARC Centre of Excellence in Population Ageing Research, Australian School of Business, University of New South Wales)

Abstract

This paper proposes and assesses consistent multi-factor dynamic ane mortality models for longevity risk applications. The dynamics of the model produce closed-form expressions for survival curves. The framework includes an arbitrage free model specication. Importantly, the mortality model provides consistent future survival curves with the same parametric form as the initial curve.

Suggested Citation

  • Chung Tran & Alan Woodland, 2011. "Trade-Offs in Means Tested Pension Design," Working Papers 201110, ARC Centre of Excellence in Population Ageing Research (CEPAR), Australian School of Business, University of New South Wales.
  • Handle: RePEc:asb:wpaper:201110
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    File URL: http://cepar.edu.au/media/48739/Trade-Offs%20in%20Pension%20Design.pdf
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    References listed on IDEAS

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    Cited by:

    1. repec:eee:insuma:v:75:y:2017:i:c:p:32-47 is not listed on IDEAS
    2. Sagiri Kitao, 2014. "Sustainable Social Security: Four Options," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(4), pages 756-779, October.
    3. Fedor Iskhakov & Michael Keane, 2018. "Effects of Taxes and Safety Net Pensions on life-cycle Labor Supply, Savings and Human Capital: the Case of Australia," ANU Working Papers in Economics and Econometrics 2018-661, Australian National University, College of Business and Economics, School of Economics.
    4. Cho, Sang-Wook (Stanley) & Sane, Renuka, 2013. "Means-Tested Age Pensions And Homeownership: Is There A Link?," Macroeconomic Dynamics, Cambridge University Press, vol. 17(06), pages 1281-1310, September.
    5. repec:eee:hapoch:v1_713 is not listed on IDEAS
    6. Emily Dabbs & Cagri Kumru, 2016. "How Well Does the Australian Aged Pension Provide Social Insurance?," Australian Economic Papers, Wiley Blackwell, vol. 55(3), pages 192-211, September.
    7. George Kudrna & Alan D. Woodland, 2015. "Progressive Tax Changes to Superannuation in a Lifecycle Framework," CESifo Working Paper Series 5645, CESifo Group Munich.
    8. George Kudrna & Alan Woodland, 2012. "Progressive Tax Changes to Private Pensions in a Life-Cycle Framework," Working Papers 201209, ARC Centre of Excellence in Population Ageing Research (CEPAR), Australian School of Business, University of New South Wales.
    9. Börsch-Supan, A. & Härtl, K. & Leite, D.N., 2016. "Social Security and Public Insurance," Handbook of the Economics of Population Aging, Elsevier.
    10. Harris, Irina & Wang, Yingli & Wang, Haiyang, 2015. "ICT in multimodal transport and technological trends: Unleashing potential for the future," International Journal of Production Economics, Elsevier, vol. 159(C), pages 88-103.
    11. repec:eee:joecag:v:7:y:2016:i:c:p:17-29 is not listed on IDEAS

    More about this item

    Keywords

    Means-Tested Pension; Social Security; Optimal Policy; Overlapping Generations; Dynamic General Equilibrium;

    JEL classification:

    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • J1 - Labor and Demographic Economics - - Demographic Economics

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