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Working Papers

Students collaborating

Zixi Li, Adam W. Shao and Michael Sherris

Multiple state functional disability models do not generally include systematic trend and uncertainty. We develop and estimate a multi-state latent factor intensity model with transition and recovery rates depending on a stochastic frailty factor to capture trend and uncertainty.

Student engaging with data

Cagri Kumru and Arm Nakornthab

We study the interaction between estate taxation and annuity demand both analytically and quantitatively. Our quantitative model is rich enough to capture the important features of the economy such as business investment, borrowing constraints, estate transmission, and wealth inequality.

Electronic data

Rafal Chomik and John Piggott

This paper offers a discussion of adequacy of retirement benefits. We have the Australian context in mind, but introduce extensive international comparisons to provide perspective.

Monetary gains

Rafal Chomik and John Piggott

This note looks at the treatment of wealth in the income and assets tests that comprise the Age Pension means test. We demonstrate how the tests interact, the extent to which different assets are treated equally and whether the income and assets tests interact effectively across the asset distribution.

Colleagues discussing ageing research

Axel Borsch-Supan and Christopher Quinn

The paper motivates and describes the tax treatment of German retirement benefits and pensions after the 2005 reform initiated by the German Federal Constitutional Court.


Carl Emmerson and Paul Johnson

Private pension saving is hugely important in the UK and traditionally the taxation of pensions has been relatively stable and rather generous, beyond the treatment offered by an expenditure tax regime.

Fiscal growth

Bernd Genser and Robert Holzmann

Pension policy reforms across the world in recent decades are a reaction to the changing demographic and socioeconomic environment.

Women collaborating on pension research

Jukka Lassila and Tarmo Valkonen

We study transitions from EET tax regime to TEE regime in a defined-benefit pension scheme with a numerical overlapping generations model, using stochastic mortality projections as inputs.

Man accessing data on his laptop

Christian Keuschnigg

The gains in life expectancy are expected to double the dependency ratio and increase population by 10% in Switzerland until 2050.