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This article explores the influence of the pension system on corporate governance, which has so far received little attention in the corporate law literature. While the shareholder-centric view of corporate governance is strong today, this is a relatively recent development. “Managerial...
Persistent link: https://www.econbiz.de/10013105476
About 5 million state and local government workers, including 1.2 million public school teachers concentrated in 15 states, are not enrolled in Social Security. In order to ensure that those workers receive adequate benefits, Congress requires state and local government employers to offer...
Persistent link: https://www.econbiz.de/10012823521
The Dutch occupational pension system has been successful in securing high asset accumulation to fund generous pension promises. However, for the second time in this decade the pension system has been affected by a financial crisis and many pension funds’ assets fell below levels needed to...
Persistent link: https://www.econbiz.de/10012446259
The importance of cross-border portability of social benefits is increasing in parallel with the rise in the absolute number of international migrants and their share of the world population, and perhaps more importantly, with the rising share of world population that for some part of their life...
Persistent link: https://www.econbiz.de/10011847190
This Article explores the influence of the pension system on corporate governance, which has so far received little attention in the corporate law literature. While the shareholder-centric view of corporate governance is strong today, this is a relatively recent development. “Managerial...
Persistent link: https://www.econbiz.de/10014157293
China launched a pension program for rural residents in 2009, now covering more than 300 million Chinese. This program offers a unique setting for studying the ageing population, given the rapidity of China's population ageing, traditions of filial piety and co-residence, decreasing number of...
Persistent link: https://www.econbiz.de/10011387023
This paper develops a general equilibrium life-cycle model with endogenous retirement and disability risk, in order to … quantify the impact of recent pension reforms in Germany. At certain ages households may either apply for disability pensions …
Persistent link: https://www.econbiz.de/10013473681
This paper develops a general equilibrium life-cycle model with endogenous retirement and disability risk, in order to … quantify the impact of recent pension reforms in Germany. At certain ages households may either apply for disability pensions …
Persistent link: https://www.econbiz.de/10014264162
This paper explores the optimal risk sharing arrangement between generations in an overlapping generations model with endogenous growth. We allow for nonseparable preferences, paying particular attention to the risk aversion of the old as well as overall "life-cycle" risk aversion. We provide a...
Persistent link: https://www.econbiz.de/10003375998
For decades, pension systems were based on the rising revenue generated by an expanding population (demographic dividend). As changes in fertility and longevity created new population structures, however, the dividend disappeared, but pension systems failed to adapt. They are kept solvent by...
Persistent link: https://www.econbiz.de/10011417389