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Health, Longevity and Pension Reform
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics, Uppsala Center for Fiscal Studies.
Ragnar Frisch Centre for Economic Research, Norge.
Ragnar Frisch Centre for Economic Research, Norge.
Department of Economics, Stockholm School of Economics.
2018 (English)Report (Other academic)
Abstract [en]

In this paper, we study alternative pension reforms designed to achieve fiscal sustainability

in the face of demographic change. We are particularly interested in the

heterogeneous effects across demographic groups, as improvements in health and

longevity have not been uniform across the population. To this end, we develop a dynamic,

structural life cycle model of heterogeneous agents who face health, mortality

and income risk. We consider the following policy reform measures: (1) increasing

the early access age to pensions, (2) raising income taxes, (3) lowering pension benefits

and (4) lowering pension and disability benefits. We find that, of the considered

policies, proportionally lowering pension and disability benefits results in the highest

average welfare and the lowest degree of inequality. It is also successful at boosting

employment, particularly among the less educated.

Place, publisher, year, edition, pages
Uppsala: Uppsala universitet, 2018. , p. 41
Series
Working paper / Department of Economics, Uppsala University (Online), ISSN 1653-6975 ; 2018:9
Keywords [en]
Life cycle; Retirement; Disability insurance; Health
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:uu:diva-354337OAI: oai:DiVA.org:uu-354337DiVA, id: diva2:1221837
Available from: 2018-06-20 Created: 2018-06-20 Last updated: 2018-06-25Bibliographically approved

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CiteExportLink to record
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