Trade-Offs in Means Tested Pension Design

This paper proposes and assesses consistent multi-factor dynamic ane mortality models for longevity risk applications. The dynamics of the model produce closed-form expressions for survival curves. The framework includes an arbitrage free model specication. Importantly, the mortality model provides consistent future survival curves with the same parametric form as the initial curve.

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Year of publication:	2011-10
Authors:	Tran, Chung ; Woodland, Alan
Institutions:	ARC Centre of Excellence in Population Ageing Research (CEPAR), UNSW Business School
Subject:	Means-Tested Pension \| Social Security \| Optimal Policy \| Overlapping Generations \| Dynamic General Equilibrium

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Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 201110 37 pages
Classification:	D9 - Intertemporal Choice and Growth ; E2 - Consumption, Saving, Production, Employment, and Investment ; E6 - Macroeconomic Policy Formation, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook ; H3 - Fiscal Policies and Behavior of Economic Agents ; H5 - National Government Expenditures and Related Policies ; J1 - Demographic Economics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010551707