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Optimal sharing of labor productivity risks and mix of pay-as-you-go and savings

Kusmerski Bilard, Debora - 2008

The paper addresses two related issues: the optimal intergenerational sharing of laborproductivity risks, through a Pay-As-You-Go (PAYG) social security, and the mix ofPAYG and savings for retirement provision in a small open economy. It shows that partial contingency of the social security on...

Persistent link: https://www.econbiz.de/10011376622

Generational accounting, solidarity and pension losses

Teulings, Coen N.; Vries, Casper G. de - 2003

The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger...

Persistent link: https://www.econbiz.de/10011334341

Human capital formation, income inequality and growth

Viaene, Jean-Marie; Zilcha, Itzhak - 2001

The paper studies the determinants of income distribution and growth in an overlapping generations economy ….Heterogeneity in income results from the distribution of human capital acrossindividuals in a non-degenerate way. The human capital … production is affected by 'home-education' , provided bythe parents, as well as 'public-education , which is provided equally to …

Persistent link: https://www.econbiz.de/10011318579

The sustainability of the pay-as-you-go system with falling birth rates

Praag, Bernard M. S. van; Cardoso, Pedro - 2002

will result in a reduction of average welfare and an increase in the income inequality between workers and retired people/individuals. …

Persistent link: https://www.econbiz.de/10011326408

Human capital and cross-country comparison of inequality

Viaene, Jean-Marie; Zilcha, Itzhak - 2002

The paper studies the effects of cross-country differences in the productionprocess of human capital on income … effect upon intragenerational income inequality and growth along theequilibrium path. We also indicate how the level of …

Persistent link: https://www.econbiz.de/10011326974

Voluntary participation and intergenerational risk sharing in a funded pension system

Beetsma, Roel; Romp, Ward E.; Vos, Siert J. - 2011 - This version: March 16, 2011

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/10011386164