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In this paper I use a multi-period OLG model to study how a demographic shock is distributed among different generations. In particular, I investigate whether a funded pension system allows for a smoother adjustment than an unfunded system. The results suggest that the answer to this question...
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fertility behavior and productivity growth. They present theoretical arguments to the effect that public pension coverage as … such will reduce aggregate fertility and may raise aggregate household savings. They argue further that public pensions, as … the policies under discussion. Their policy proposals to address declines in fertility and productivity growth include the …
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Who's afraid of the big bad bear? : or, why investment in equities for retirement is not scary and why investing without equities is scary / Ronald Bewley, Nick Ingram, Veronica Livera and Sheridan Thompson -- Assessing the risks in global fixed interest portfolios / Geoffrey Brianton -- The...
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