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and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by different types of …
Persistent link: https://www.econbiz.de/10001452280
aggregate risk. We argue that interactions between the two risks are important for this question. One is a direct interaction in … the form of a countercyclical variance of idiosyncratic income risk. The other indirectly emerges over a household's life …-cycle because retirement savings contain the history of idiosyncratic and aggregate shocks. We show that this leads to risk …
Persistent link: https://www.econbiz.de/10010374428
aggregate risk. We argue that interactions between the two risks are important for this question. One is a direct interaction in … the form of a countercyclical variance of idiosyncratic income risk. The other indirectly emerges over a household's life …-cycle because retirement savings contain the history of idiosyncratic and aggregate shocks. We show that this leads to risk …
Persistent link: https://www.econbiz.de/10010359333
Persistent link: https://www.econbiz.de/10011529829
funded and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by different …
Persistent link: https://www.econbiz.de/10009781509
and unfunded systems when there are sources of uninsurable risk that are allocated in different ways by different types of …
Persistent link: https://www.econbiz.de/10013321171
Persistent link: https://www.econbiz.de/10013423002
Persistent link: https://www.econbiz.de/10009270871
Persistent link: https://www.econbiz.de/10003803995
This paper proposes a method for the welfare analysis of pay-as-you-go social security systems. We derive a formula for the welfare consequences of a permanent marginal change in the payroll tax rate that is valid under weak assumptions about the deep structure of the economy. Our approach...
Persistent link: https://www.econbiz.de/10011291373