Learning to save in a voluntary pension system: toward an agent-based model by András SIMONOVITS and Balázs KIRÁLY was published in Journal of Economic Interaction and Coordination.
Mandatory pension systems partially replace old-age income, therefore the government matches additional life-cycle savings in a voluntary pension system. Though the individual saving decisions are apparently independent, the earmarked taxes (paid to finance the matching) connect them. Previous models either neglected the endogenous tax expenditures (e.g. Choi et al., in: Wise (ed) Perspectives in the economics of aging, University of Chicago Press, Chicago, pp 81–121, 2004) or assumed very sophisticated saving strategies (e.g. Fehr et al. in FinanzArchiv Pub Finance Anal 64:171–198, 2008). We create twin models: myopic workers learn (i) from farsighted workers using public information (analytic model) and (ii) also from each other (agent-based model). These models provide more realistic results on saving behavior and the impact of matching on the income redistribution than the earlier models.
Venue: MTA HTK 1097 Budapest Tóth Kálmán u. 4. fszt. K011-12-es előadóterem Inequality is rising where social network segregation interacts with urban topology Gergő Tóth, Johannes Wachs, Riccardo Di Clemente, Ákos Jakobi, Bence Ságvári, János Kertész ... Details »
Venue: Budapest, Fővám tér 8. 1093 The Financial Research Centre, Department of Finance, Corvinus Business School, Corvinus University of Budapest and the Game Theory Research Group, Centre for Economic and Regional Studies, ... Details »
Venue: MTA HTK 1097 Budapest Tóth Kálmán u. 4. fszt. K011-12-es előadóterem The Cost of Favouritism in Public Procurement Bruno Baránek Department of Economics, Princeton University Vítézslav Titl Faculty of Economics and Business, University of Leuven ... Details »
Trading Networks with Frictions by Tamás FLEINER, Ravi JAGADEESAN, Zsuzsanna JANKÓ and Alexander TEYTELBOYM was published in Econometrica. download article here Share this:FacebookLinkedInTwitter
“The multiplier effect of local food: the protocol of a systematic review” was presented by Imre FERTŐ at the EAAE (European Association of Agricultural ... Details »
“Agricultural soft budget constraints in new European Union member states” by Imre FERTŐ, Štefan Bojnec, József Fogarasi and Ants Hannes Viira was published in ... Details »