Rahman, Muhammad - Center for Applied Economics and Policy Research … - 2008
, Life-cycle model, Annuity market,
Pay-as-you-go, Fully funded, De�ned bene�t, De�ned contribution.
1 Introduction
In this … the De�ned Contribution(DC) arrangements. Under the assumtption of a �xed bene�t rate
for the DB system and a �xed tax …, Nt, and Xt.
6 ModelwithPAYGO-De�nedContributionSocialSecuritySys-
tem
The PAYGO-De�ned Contribution will be identical to …