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On Sustainable Pay-As-You-Go Systems
Demange, Gabrielle - C.E.P.R. Discussion Papers - 2005
An unfunded Social Security system faces a major risk, sometimes referred to as ‘political risk’. In order to account … properly for this risk, the paper considers a political process in which the support to the system is asked from each newborn …-generational redistribution, risk aversion, financial markets, governmental debt- on the political sustainability of a pay-as-you-go system is …
Persistent link: https://www.econbiz.de/10005666926
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Evaluating pay-as-you-go social security systems
Bachmann, Andreas; Wüthrich, Kaspar - 2015
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
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Intergenerational risk sharing, pensions, and endogenous labour supply in general equilibrium
Beetsma, Roel; Romp, Ward E.; Vos, Siert J. - In: The Scandinavian journal of economics 115 (2013) 1, pp. 141-154
Persistent link: https://www.econbiz.de/10009755391
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How to finance pensions : optimal strategies for pay-as-you-go pension systems
Godínez-Olivares, Humberto; Boado-Penas, María del Carmen - In: Journal of forecasting 35 (2016) 1, pp. 13-33
Persistent link: https://www.econbiz.de/10011417674
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Political viability of public pensions and education : an empirical application
Michailidis, Gianko; Patxot, Concepció - In: Applied economics letters 26 (2019) 3, pp. 245-249
Persistent link: https://www.econbiz.de/10012204178
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Intergenerational risk sharing
Gordon, Roger H.; Varian, Hal R. - 1985
Persistent link: https://www.econbiz.de/10000686615
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Intergenerational risk sharing, stability and optimality of alternative pension systems
Hassler, John; Lindbeck, Assar - 1997
Persistent link: https://www.econbiz.de/10000645664
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Sharing demographic risk : who is afraid of the baby bust?
Ludwig, Alexander; Reiter, Michael - 2008
Persistent link: https://www.econbiz.de/10003755811
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Sharing demographic risk : who is afraid of the baby bust?
Ludwig, Alexander (contributor); Reiter, Michael (contributor) - 2008
We model the optimal reaction of a public PAYG pension system to demographic shocks. We compare the ex-ante first best and second best solution of a Ramsey planner with full commitment to the outcome under simple third best rules that mimic the pension systems observed in the real world. The...
Persistent link: https://www.econbiz.de/10003771791
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Career progression and formal versus on-the-job training
Adda, Jérôme; Dustmann, Christian; Meghir, Costas; … - 2006
Persistent link: https://www.econbiz.de/10003356110