Góra, Marek; Palmer, Edward - Institute for the Study of Labor (IZA) - 2004
-financial defined contribution (NDC), financial defined benefit (FDB) and non-financial defined benefit (NDB). A main contribution of … the paper is the development of the concept of NDC, itself a new construction in pension economics. An important … conclusion is that NDC is neutral in terms of externalities. It manages the risks and eliminates the negative externalities …