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facing uninsurable idiosyncratic labor income risk. The Ramsey government internalizes the general equilibrium feedback of … optimal aggregate saving rate is independent of income risk. The optimal time-invariant tax on capital is increasing in income … risk. Its sign depends on the extent of risk and on the Pareto weight of future generations. If the Ramsey tax rate that …
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Contribution (DC) plans. Each scheme corresponds to a different philosophy of spreading risk between the stakeholders: in a DB, the … other risk-sharing approaches will be developed in a pay-as-you-go philosophy. These principles will be illustrated by the …
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facing uninsurable idiosyncratic labor income risk. The Ramsey government internalizes the general equilibrium feedback of … optimal aggregate saving rate is independent of income risk. The optimal time-invariant tax on capital is increasing in income … risk. Its sign depends on the extent of risk and on the Pareto weight of future generations. If the Ramsey tax rate that …
Persistent link: https://www.econbiz.de/10011796072