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, and what governments have done to deal with the emerging issues. The paper starts by discussing what theory tells us about … in the case of pay-as-you-go state pensions and defined-benefit occupational pensions, theory would suggest that the … that the real world experiences are in line with what could be expected theoretically and argues that regardless of whether …
Persistent link: https://www.econbiz.de/10013144536
resolved by the introduction of generational accounts. Using modern portfolio and consumption planning theory we show that the …
Persistent link: https://www.econbiz.de/10013319589
resolved by the introduction of generational accounts. Using modern portfolio and consumption planning theory we show that the …
Persistent link: https://www.econbiz.de/10014074188
Persistent link: https://www.econbiz.de/10002145348
This paper examines the mechanism of financial globalization and the preconditions needed for its operation, from the aspect of financial development. Using data on financial globalization and financial development from 16 OECD countries during the period of 1988 to 2001, this paper also...
Persistent link: https://www.econbiz.de/10013237717
The recent financial crisis and historical record suggest important lessons about the design of national pension systems. First, wide fluctuation in asset returns makes it hard for well-informed savers to select a saving rate or a sensible investment strategy for DC pensions. Workers who follow...
Persistent link: https://www.econbiz.de/10003872221
The paper surveys the state of German pension system after a sequence of reforms aimed at achieving long-term sustainability. We argue that the latest reforms have moved pension provision in Germany in principle from a defined benefit to a defined contribution scheme, and that this move has...
Persistent link: https://www.econbiz.de/10003936177
The paper surveys the state of German pension system after a sequence of reforms aimed at achieving long-term sustainability. We argue that the latest reforms have moved pension provision in Germany in principle from a defined benefit to a defined contribution scheme, and that this move has...
Persistent link: https://www.econbiz.de/10003857711
We analyze expectations of the Dutch population of ages 25 and older concerning the future generosity state and occupational pensions, the two main pillars of the Dutch pension system. Since the summer of 2006, monthly survey data were collected on the expectations of Dutch households concerning...
Persistent link: https://www.econbiz.de/10009308015
Häufig wird angenommen, Deutschland und andere von demographischen Problemen betroffene Industrieländer könnten Finanzierungsprobleme der Rentenversicherung durch eine stärkere Kapitaldeckung inklusive Anlage dieses Kapitals im Ausland abmildern. Neben der Annahme, dass die Rendite bei...
Persistent link: https://www.econbiz.de/10009616514