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Optimal sharing of labor productivity risks and mix of pay-as-you-go and savings
Kusmerski Bilard, Debora - 2008
above the expected growth rate of the economy and when thegovernment has a lifetime perspective of the risk exposure. The …
Persistent link: https://www.econbiz.de/10011376622
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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 … increases with risk aversion and financial market uncertainty. We find that it is likely that mandatory participation is … necessary to sustain a funded pension pillar and to let participants benefit from intergenerational risk sharing. …
Persistent link: https://www.econbiz.de/10011386164
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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 … thus lowers the benefits of risk-sharing. Higher illiquidity then may justify higher levels of risk sharing to compensate …
Persistent link: https://www.econbiz.de/10013175574
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Intergenerational sharing of unhedgeable inflation risk
Chen, Damiaan H. J.; Beetsma, Roel; Wijnbergen, Sweder van - 2022 - This version: November 16, 2022
market instruments. Using intergenerational risk sharing arrangements, risks can be allocated better across the various …
Persistent link: https://www.econbiz.de/10013460026
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Cooperation in an overlapping generations experiment
Offerman, Theo; Potters, Jan; Verbon, Harry A. A. - 1998
Recent theoretical work shows that folk theorems can be developed for infiniteoverlapping generations games. Cooperation in such games can be sustained as aNash equilibrium. Besides the efficient cooperative equilibrium there is alsothe inefficient non-cooperative equilibrium. This paper...
Persistent link: https://www.econbiz.de/10011301169
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Demography and provisions for retirement : the pension composition, an equilibrium approach
Praag, Bernard M. S. van; Hop, J. Peter - 2018
Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory fully funded occupational pension systems, and mandatory social security financed by pay-as-you-go. The specific mixture of the three systems we will call the pension composition....
Persistent link: https://www.econbiz.de/10011870742
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Population ageing and pension reform in a small open economy with non-traded goods
Bettendorf, Leon; Heijdra, Ben J. - 2004
In this paper we study the implications of population ageing in an economy with a sizeable non-traded goods sector. To this effect a highly stylized micro-founded macro model is constructed in which the age structure of the population plays a non-trivial role. The model distinguishes separate...
Persistent link: https://www.econbiz.de/10011343315
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Intergenerational and international welfare leakages of a product subsidy in a small open economy
Bettendorf, Leon; Heijdra, Ben J. - 1997
Persistent link: https://www.econbiz.de/10000959249
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Taxing energy to improve the environment : efficiency and distributional effects
Heijdra, Ben J.; Horst, Albert van der - 1998
Persistent link: https://www.econbiz.de/10000981249
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Capital markets integration, growth and income distribution : a dynamic analysis
Viaene, Jean-Marie; Zilcha, Itzhak - 1997
Persistent link: https://www.econbiz.de/10000976071