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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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The sustainability of the pay-as-you-go system with falling birth rates
Praag, Bernard M. S. van; Cardoso, Pedro - 2002
, technological growth, the time-preference discount rate, the relative risk aversion, the production function, and the degree of …
Persistent link: https://www.econbiz.de/10011326408
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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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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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Participation constraints in pension systems
Beetsma, Roel; Romp, Ward - 2013
Persistent link: https://www.econbiz.de/10010191224
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Flexible pension take-up in social security
Adema, Yvonne; Bonenkamp, Jan; Meijdam, Lex - 2013
Persistent link: https://www.econbiz.de/10009784943
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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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Voluntary participation and intergenerational risk sharing in a funded pension system
Beetsma, Roel; Romp, Ward; Vos, Siert J. - 2011
Persistent link: https://www.econbiz.de/10008938561