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and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by different types of … income risks and also upon the actuarial fairness of annuity contracts …
Persistent link: https://www.econbiz.de/10013321171
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I show that risk-sharing pension plans can reduce some of the shortcomings of defined benefit and defined contributions … plans. The risk-sharing pension plan presented aims to improve the stability of benefits paid to generations of members … find that the risk-sharing plan offers more disappointment than a defined contribution plan, but it eliminates the …
Persistent link: https://www.econbiz.de/10011636555
funded and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by different … of return and income risks and also upon the actuarial fairness of annuity contracts. …
Persistent link: https://www.econbiz.de/10009781509
This paper uses a heterogeneous-agent overlapping-generations model to examine the fiscal and distributional consequences of introducing a means test in US Social Security. I find that a means test, that is, conditioning benefit payments on a household's earnings or assets, leads to a higher...
Persistent link: https://www.econbiz.de/10014513264
crisis. The paper recommends obligatory priv ate savings at a variable rate where the time path of the savings rate is chosen …
Persistent link: https://www.econbiz.de/10009781686
The role of employers in setting up and overseeing pension schemes offered to their employees and the quality of investment schemes offered to individual investors have attracted considerable attention in the finance literature. This paper adds to the debate by showing that institutional...
Persistent link: https://www.econbiz.de/10012902263
This article reviews the economic theories of funded and unfunded pension systems and examines the advantages and disadvantages of each type of system; these theories help to explain the current interest in funded systems as well as the difficulties associated with the transition towards them
Persistent link: https://www.econbiz.de/10012830092
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Die vorliegende Arbeit analysiert die Anreizwirkungen des Umlage- und des Kapitaldeckungsverfahrens auf Ersparnisbildung, Arbeitsangebot und intergenerative Transfers in einem mikroökonomisch fundierten, disaggregierten Generationenmodell unter besonderer Berücksichtigung dynamischer...
Persistent link: https://www.econbiz.de/10011964303