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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

Intergenerational risk sharing with market liquidity risk

Dimitrov, Daniel - 2022

This paper examines the optimal allocation of risk across generations whose savings mix is subject to illiquidity in the form of uncertain trading costs. We use a stylized two-period OLG framework, where each generation makes a portfolio allocation decision for retirement, and show that...

Persistent link: https://www.econbiz.de/10013175574

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

Bank deregulation, competition and economic growth : the US free banking experience

Ager, Philipp; Spargoli, Fabrizio - 2013

) leading to efficiency gains in the banking market. Our findings suggest that the more frequent bank failures occurring in a …

Persistent link: https://www.econbiz.de/10010227307

Total factor productivity and the Mongolian transition

Chessa, Antonio G.; Schouwstra, Marije C. - 2005

Total Factor Productivity (TFP)is often used on the macro-economic level as an indicator of changes in efficiency of a … increasing and become positive after a (quite a) few years of transition. Many authors conclude that this is a gain in efficiency … increases in efficiency. To investigate this, the mathematical properties of TFP are analysed in order to generate new insights …

Persistent link: https://www.econbiz.de/10011346474

How risk sharing may enhance efficiency in English auctions

Hu, Audrey; Offerman, Theo; Zou, Liang - 2014

We investigate the possibility of enhancing efficiency by awarding premiums to a set of highest bidders in an English …

Persistent link: https://www.econbiz.de/10010234599

Risky moms, risky kids? : fertility and crime after the fall of the wall

Chevalier, Arnaud; Marie, Olivier - 2019

1989, the number of births halved in East Germany. These cohorts became markedly more likely to be arrested as they grew up … in reunified Germany. This is observed for both genders and all offence types. We highlight risk attitude as an important …

Persistent link: https://www.econbiz.de/10012149749