In this paper, we develop and numerically solve a model of idiosyncratic labour income and idiosyncratic interest rates … to predict the evolution of a wealth distribution over time. Stochastic labour income follows a deterministic growth …

we generalize the natural retirement income tontine introduced by Milevsky and Salisbury (2015), by combining …There is growing interest in the design of annuities that insure against idiosyncratic longevity risk while pooling and … sharing systematic risk; for example Piggott, Valdez and Detzel (2005) or Donnelly, Guillen and Nielsen (2014). In this paper …

The performance of the U.S. retirement income system - including employment-based retirement plans, Social Security …, individual saving, and post-retirement employment - can in part be assessed by examining the income of current retirees. This … retired population's income, how it has changed over time, and how retirees' reliance on particular sources of income varies …

We explore the long-run relationship between income risk, inequality, and the macroeconomy in an overlapping …' labor income and returns on their savings generally accentuates households' demand for risk-free assets and the compensation … they require for bearing risk, leading to higher measured income and wealth inequality, a lower risk-free real interest …

Idiosyncratic labor incomes are typically modeled either by stochastic processes with heterogeneous income profiles … (HIPs) or restricted income profiles (RIPs). The HIP assumes that individual labor income grows deterministically at an … unobserved rate and contains a persistent but stationary component, while the RIP assumes that income contains a random walk, a …

Using detailed tax data from the Swiss canton of Bern, I examine how changes in wealth are related to income risk. I … find that only among elderly individuals high kurtosis of income risk may be positively correlated with wealth accumulation … wealth investors experience sharp increases in wealth and income in subsequent periods. Finally, wealth risk is more …

Using detailed tax data from the Swiss canton of Bern, I examine how changes in wealth are related to income risk. I … find that only among elderly individuals high kurtosis of income risk may be positively correlated with wealth accumulation … wealth investors experience sharp increases in wealth and income in subsequent periods. Finally, wealth risk is more …

In this small paper author makes some comments on the relation between Income Distribution and the Government Debt as a … percentage of GDP. It is estimated through a panel data model that optimum Income Distribution takes place at a critical level of … a significant role towards a more equal Income Distribution. Finally, the size of the GDP per se does not matter in the …