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We explore the feasibility of a funded pension system with intergenerational risk sharing when participation in the system is voluntary. Typically, the willingness of the young to participate depends on their belief about the future young's willingness to do so. We characterise equilibria with...
Persistent link: https://www.econbiz.de/10010325858
We explore voluntary participation in pension arrangements. Individuals only participate when participation is more attractive than autarky. The bene??it of participation is that risks can be shared with future generations. We apply our analysis to a pay-as-you-go system, a funded system without...
Persistent link: https://www.econbiz.de/10010326545
We develop a polygenic index for individual income and examine random differences in this index with lifetime outcomes … in a sample of ~35,000 biological siblings. We find that genetic fortune for higher income causes greater socio … education, income, and health are partly due the outcomes of a genetic lottery. However, the consequences of different genetic …
Persistent link: https://www.econbiz.de/10012427153
Two family-specific lotteries take place during conception— a social lottery that determines who our parents are and … which environment we grow up in, and a genetic lottery that determines which part of their genomes our parents pass on to us … socioeconomic status. Here, we estimate a lower bound for the relevance of these two lotteries for differences in education, income …
Persistent link: https://www.econbiz.de/10012606001