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Funded and unfunded pension schemes : risk, return and welfare
Miles, David - 2000
This paper uses stochastic simulations on calibrated models to assess the optimal degree of reliance on fun ded pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between funded and unfunded systems when there are sources of...
Persistent link: https://www.econbiz.de/10009781509
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Funded and Unfunded Pension Schemes : Risk, Reutrn and Welfare
Miles, David - 2021
This paper uses stochastic simulations on calibrated models to assess the optimal degree of reliance on funded pensions and on a particular type of unfunded (PAYG) pension. Surprisingly little is known about the optimal split between funded and unfunded systems when there are sources of...
Persistent link: https://www.econbiz.de/10013321171
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Political stress and the sustainability of funded pension schemes : introduction of a financial theory
Wolf, Ishay - In: Journal of risk and financial management : JRFM 14 (2021) 11, pp. 1-12
theory highly relevant. It is obviously one of the cases where social targets meat financial equilibrium and here they are in …
Persistent link: https://www.econbiz.de/10012795260
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Social security is NOT a substitute for annuity markets
Caliendo, Frank; Guo, Nick L.; Hosseini, Roozbeh - In: Review of economic dynamics 17 (2014) 4, pp. 739-755
Persistent link: https://www.econbiz.de/10011281434
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Optimal risk-sharing in pension funds when stock and labor markets are co-integrated
Boelaars, Ilja; Mehlkopf, Roel - 2018
Persistent link: https://www.econbiz.de/10011856197
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Demography and provisions for retirement : the pension composition, an equilibrium approach
Praag, Bernard M. S. van; Hop, J. Peter - 2018
Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory … individual savings, that the fully funded occupational system is decided upon by the age cohort of the median worker and that … decisions is a Pareto-equilibrium. Nowadays most of capital supply stems from individual and institutionalised pension savings …
Persistent link: https://www.econbiz.de/10011870742
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Demography and provisions for retirement : the pension composition, a behavioral approach
Praag, Bernard M. S. van; Hop, J. Peter - In: Journal of demographic economics : JODE 87 (2021) 1, pp. 1-31
Persistent link: https://www.econbiz.de/10012437336
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Linear Risk Sharing in Intergenerational Pension
Anthropelos, Michail; Chen, An; Vanduffel, Steven; … - 2023
We introduce and analyze a novel collective defined contribution plan (CDC) which guarantees upon retirement at least a target benefit as a lump sum. The guarantee is provided by the remaining working generations under a pre-determined linear intergenerational risk sharing (IRS) rule. Through a...
Persistent link: https://www.econbiz.de/10014254632
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Saving with Group or Individual Personal Pension Schemes : How Much Difference Does It Make?
Zalewska, Anna (Ania) - 2019
The role of employers in setting up and overseeing pension schemes offered to their employees and the quality of investment schemes offered to individual investors have attracted considerable attention in the finance literature. This paper adds to the debate by showing that institutional...
Persistent link: https://www.econbiz.de/10012902263
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Pension design and the failed economics of squirrels
Barr, Nicholas A. - In: LSE public policy review 2 (2021) 1, pp. 1-8
Persistent link: https://www.econbiz.de/10012807961