Narrow search
Showing 1 - 10 of 324
Cover Image
Generational accounting, solidarity and pension losses
Teulings, Coen N.; Vries, Casper G. de - 2003
The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger...
Persistent link: https://www.econbiz.de/10011334341
Cover Image
Mapping the minds of retirement planners
Hershey, Douglas A.; Henkens, Kène; Dalen, Hendrik P. van - 2006
This study explored the psychological mechanisms that underlie the retirement planning and saving tendencies of Dutch and American workers. Participants were 988 Dutch and 429 Americans, 25-64 years of age. Analyses were designed to: (a) examine the extent to which structural variables were...
Persistent link: https://www.econbiz.de/10011349213
Cover Image
The political origin of pension funding
Perotti, Enrico C.; Schwienbacher, Armin - 2006 - Date: 20 December 2006
The paper seeks to explain the huge cross country variation in private pension funding,shaped by historical choice made when universal pension systems were created after theGreat Depression. According to Perotti and von Thadden (2006), large inflationaryshocks due to war damage devastated middle...
Persistent link: https://www.econbiz.de/10011350371
Cover Image
Demography and provisions for retirement : the pension composition, an equilibrium approach
Praag, Bernard M. S. van; Hop, J. Peter - 2018
is relevant for the present century, where birth and mortality rates in most western countries are steeply declining. …
Persistent link: https://www.econbiz.de/10011870742
Cover Image
Comonotonic approximations of risk measures for variable annuity guaranteed benefits with dynamic policyholder behavior
Feng, Runhuan; Jing, Xiaochen; Dhaene, Jan - 2015
The computation of various risk metrics is essential to the quantitative risk management of variable annuity guaranteed … produce closed-form approximation of the risk measures for variable annuity guaranteed benefits. The techniques are further … developed in this paper to address in a systematic way risk measures for death benefits with the consideration of dynamic …
Persistent link: https://www.econbiz.de/10010464782
Cover Image
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
Cover Image
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
Cover Image
Generational accounting, solidarity and pension losses
Teulings, Coen N.; Vries, Casper G. de - 2003
Persistent link: https://www.econbiz.de/10001884957
Cover Image
The political origins of pension funding
Perotti, Enrico C.; Schwienbacher, Armin - 2007
Persistent link: https://www.econbiz.de/10003408831
Cover Image
Retirement with perfect insurance
Kula, Grzegorz - 2003
This paper focuses on the relation between worker's productivity and retirement decision. Assuming that productivity follows geometric Brownian motion with drift, there exists such a level of productivity for which it is optimal to retire. The worker buys an insurance, which gives a constant...
Persistent link: https://www.econbiz.de/10011334338