Savings, Social Security and Bequests in an OLG Model. A Simulation Exercise for Austria
This paper analyses the relation between savings, social security, and bequests in an OLG model. The social security system is modelled on a pay-as-you-go basis to replicate aspects of the Austrian pension scheme. A bequest motive is introduced by postulating that households derive utility from bequeathing wealth to their heirs. The parameters of the model are chosen to replicate important characteristics of the Austrian economy. The simulations focus on the effects of transitory and permanent changes in labor supply growth. These exercises demonstrate the importance of bequests for understanding qualitatively as well as quantitatively the saving behavior of private households. Copyright Springer-Verlag 1993
(This abstract was borrowed from another version of this item.)
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||Feb 1991|
|Date of revision:|
|Publication status:||published in Journal of Economics/Zeitschrift für Nationalökonomie.|
|Contact details of provider:|| Web page: http://www.univie.ac.at/vwl|
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.:
- Laurence J. Kotlikoff & Avia Spivak, 1979.
"The Family as an Incomplete Annuities Market,"
UCLA Economics Working Papers
151, UCLA Department of Economics.
- Laitner, John, 1984. "Transition time paths for overlapping-generations models," Journal of Economic Dynamics and Control, Elsevier, vol. 7(2), pages 111-129, May.
- B. Douglas Bernheim, 1987.
"Dissaving after Retirement: Testing the Pure Life Cycle Hypothesis,"
in: Issues in Pension Economics, pages 237-280
National Bureau of Economic Research, Inc.
- B. Douglas Bernheim, 1984. "Dissaving After Retirement: Testing the Pure Life Cycle Hypothesis," NBER Working Papers 1409, National Bureau of Economic Research, Inc.
- Shleifer, Andrei & Summers, Lawrence H. & Bernheim, B. Douglas, 1986.
"The Strategic Bequest Motive,"
3721794, Harvard University Department of Economics.
- Bernheim, B Douglas & Shleifer, Andrei & Summers, Lawrence H, 1986. "The Strategic Bequest Motive," Journal of Labor Economics, University of Chicago Press, vol. 4(3), pages S151-82, July.
- Bernheim, B Douglas & Shleifer, Andrei & Summers, Lawrence H, 1985. "The Strategic Bequest Motive," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1045-76, December.
- Weil, Philippe, 1989. "Overlapping families of infinitely-lived agents," Journal of Public Economics, Elsevier, vol. 38(2), pages 183-198, March.
- Kotlikoff, Laurence J, 1988.
"Intergenerational Transfers and Savings,"
Journal of Economic Perspectives,
American Economic Association, vol. 2(2), pages 41-58, Spring.
- Gary S. Becker, 1974.
"A Theory of Social Interactions,"
NBER Working Papers
0042, National Bureau of Economic Research, Inc.
- Summers, Lawrence H, 1981. "Capital Taxation and Accumulation in a Life Cycle Growth Model," American Economic Review, American Economic Association, vol. 71(4), pages 533-44, September.
- Gerhard Orosel, 1991. "Inheritance and inequality when wealth enters the utility function," Journal of Economics, Springer, vol. 53(2), pages 133-160, June.
- Barro, Robert J, 1974.
"Are Government Bonds Net Wealth?,"
Journal of Political Economy,
University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
- Hurd, Michael D, 1989. "Mortality Risk and Bequests," Econometrica, Econometric Society, vol. 57(4), pages 779-813, July.
- Christian Keuschnigg, 1990. "Internationale und intertemporale Effekte der Kapitaleinkommensbesteuerung," Discussion Paper Serie A 300, University of Bonn, Germany.
- Alan J. Auerbach & Laurence J. Kotlikoff & Robert P. Hagemann & Giuseppe Nicoletti, 1989. "The Economic Dynamics of an Ageing Population: The Case of Four OECD Countries," OECD Economics Department Working Papers 62, OECD Publishing.
- Lindbeck, Assar & Weibull, Jorgen W, 1986. " Intergenerational Aspects of Public Transfers, Borrowing and Debt," Scandinavian Journal of Economics, Wiley Blackwell, vol. 88(1), pages 239-67.
When requesting a correction, please mention this item's handle: RePEc:vie:viennp:vie9201. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paper Administrator)
If references are entirely missing, you can add them using this form.