Dear colleagues, The Department of Economics cordially invites you to the WU Economic Research Seminar (Department Seminar) on Wednesday, December 6, with Wolfgang Nagl (IHS) on "Distributive effects of defined benefit public pension systems: The case of Austria" Abstract: We investigate redistribution along the intergenerational and intragenerational dimension within the Austrian defined benefit public pension system. To identify redistribution we calculate internal rates of return for the birth cohorts of 1937 to 1946 using administrative data of new pensioners from the period 2001 to 2011. We find that redistribution is more pronounced along the intragenerational dimension as along the intergenerational dimension. Within cohorts redistribution goes towards females and lowincome earners. Furthermore we provide two additional calculation exercises. First, we show that intragenerational redistribution is substantially reduced when income-specific life expectancies are considered. Second, we show that redistribution along both dimensions is reduced under the new Austrian pension legislation since 2005 in which the whole employment careers are considered as a reference period. Place and time: Wednesday, December 6, 4.30 - 6.00 p.m., Campus WU, Welthandelsplatz 1, 1020 Vienna, building D4, 2nd floor, Department meeting room 2.008 With best regards, Harald Oberhofer --- Univ.-Prof. Dr. Harald Oberhofer Institute for International Economics WU Vienna University of Economics and Business Phone: +43/1/31336-4984 Fax: +43/1/31336-4984 Email: harald.oberhofer@wu.ac.at<mailto:harald.oberhofer@wu.ac.at> Webpage: https://www.wu.ac.at/ie/mitarbeiter/harald-oberhofer/ Austrian Institute of Economic Research (WIFO) Phone: +43/1/7982601-468 Fax: +43/1/7989386 Email: harald.oberhofer@wifo.ac.at<mailto:harald.oberhofer@wifo.ac.at> Webpage: http://www.wifo.ac.at/harald_oberhofer