András SIMONOVITS: Peeling the onion: Models of flexible retirement age
To solve the pension problems of aging populations one of the most efficient tools is raising the average (effective) retirement age. In addition to raising the minimum and the full benefit retirement ages, the governments have to strengthen the incentives: this is the flexible (or variable) retirement age. In this short survey, I present the most important results of my 17-year research, frequently conducted with co-authors. Here I only name two such questions: (i) how should the government modify the system of notional defined contributions if the population is heterogenous with respect to expected life expectancy. (ii) Why is Female40 unfair even to its beneficiaries?