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Author : Gabrielle Demange
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (448 download)
Download or read book On Optimality of Intergenerational Risk Sharing written by Gabrielle Demange and published by . This book was released on 2000 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John HASSLER
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (119 download)
Download or read book INTERGENERATIONAL RISK SHARING, STABILITY AND OPTIMALITY OF ALTERNATIVE PENSION SYSTEM written by John HASSLER and published by . This book was released on 1997 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Hassler
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 ( download)
Download or read book Intergenerational Risk Sharing, Stability and Optimality of Alternative Pension Systems written by John Hassler and published by . This book was released on 1997 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Antonio Rangel
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.3/5 (91 download)
Download or read book Can Market and Voting Institutions Generate Optimal Intergenerational Risk Sharing? written by Antonio Rangel and published by . This book was released on 1999 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are market and voting institutions capable of producing optimal intergenerational risk-sharing? To study this question, we consider a simple endowment economy with uncertainty and overlapping generations. Endowments are stochastic; thus it is possible to increase the welfare of every generation using intergenerational transfers that might depend on the state of the world. We characterize the transfers that are necessary to restore efficiency and compare them to the transfers that take place in markets and voting institutions. Unlike most of that literature, we study both ex-ante and interim risk-sharing. Our main conclusion is that both types of institutions have serious problems. Markets cannot generate ex-ante risk-sharing because agents can trade only after they are born. Furthermore, markets generate interim efficient insurance in some but not all economies because they cannot generate forward (old to young) intergenerational transfers. This market failure, in theory, could be corrected by government intervention. However, as long as government policy is determined by voting, intergenerational transfers might by driven more by redistributive politics than by risk sharing considerations. Successful government intervention can arise, even though agents can only vote after they are born, but only if the young determine policy in every election.
Author : Otto van Hemert
Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (254 download)
Download or read book Optimal Intergenerational Risk Sharing written by Otto van Hemert and published by . This book was released on 2005 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gabrielle Demange
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.:/5 (94 download)
Download or read book On Opiimality of Intergenerational Risk Sharing written by Gabrielle Demange and published by . This book was released on 2000 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Intergenerational Risk Sharing written by and published by . This book was released on 1985 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Roel M. W. J. Beetsma
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.3/5 ( download)
Download or read book Pension Systems, Intergenerational Risk Sharing and Inflation written by Roel M. W. J. Beetsma and published by . This book was released on 2006 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recoge: 1. Introduction. - 2. The command economy. - 3. The decentralized economy. - 4. The loglinearized model. - 5. Laissez-faire: no pension system. - 6. The pension system. - 7. Optimal pension arrangements. - 8. Conclusions.
Author : Christoph Borgmann
Publisher : Springer Science & Business Media
ISBN 13 : 9783540222682
Total Pages : 202 pages
Book Rating : 4.2/5 (226 download)
Download or read book Social Security, Demographics, and Risk written by Christoph Borgmann and published by Springer Science & Business Media. This book was released on 2005 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume addresses the most important issues of the ongoing discussion on designing social security. It provides fundamental results for pay-as-you-go social security, covers the issues of social security during demographic transition and examines the inclusion of risk aspects into the analysis of social security. An empirical case study of Germany yields the surprising result that de facto the German public pension scheme already comprises an implicit demographic factor. This book allows a subtle understanding of how interacting risks are treated within different pension systems and thereby provides a basis for the development of innovative ways of risk sharing.
Author : Marcello D'Amato
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (263 download)
Download or read book Political Intergenerational Risk Sharing written by Marcello D'Amato and published by . This book was released on 2008 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Intergenerational Risk Sharing in the Spirit of Arrow, Debreu, and Rawls, with Applications to Social Security Design written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Bureau of Economic Research, Inc. presents an abstract of the May 2001 working paper entitled "Intergenerational Risk Sharing in the Spirit of Arrow, Debreu, and Rawls, with Applications to Social Security Design," written by Laurence Ball and N. Gregory Mankiw. The full text of the paper may be purchased online. The paper investigates the optimal allocation of risk in an overlapping-generations economy.
Author : Tim Worrall
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (463 download)
Download or read book Time Consistency and Intergenerational Risk-sharing written by Tim Worrall and published by . This book was released on 2000 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Eduardo Siandra
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (548 download)
Download or read book Intergenerational risk sharing, dynamic efficiency and PAYG written by Eduardo Siandra and published by . This book was released on 1996 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Marco Micocci
Publisher : CRC Press
ISBN 13 : 1439817545
Total Pages : 766 pages
Book Rating : 4.4/5 (398 download)
Download or read book Pension Fund Risk Management written by Marco Micocci and published by CRC Press. This book was released on 2010-01-25 with total page 766 pages. Available in PDF, EPUB and Kindle. Book excerpt: As pension fund systems decrease and dependency ratios increase, risk management is becoming more complex in public and private pension plans. Pension Fund Risk Management: Financial and Actuarial Modeling sheds new light on the current state of pension fund risk management and provides new technical tools for addressing pension risk from an integr
Author : Gabrielle Demange
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (46 download)
Download or read book On the Efficiency of Intergenerational Risk Sharing and Capital Accumulation in an Economy with Land written by Gabrielle Demange and published by . This book was released on 1998 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Roel M. W. J. Beetsma
Publisher :
ISBN 13 :
Total Pages : 11 pages
Book Rating : 4.:/5 (238 download)
Download or read book Intergenerational Risk Sharing, Pensions and Endogenous Labor Supply in General Equilibrium written by Roel M. W. J. Beetsma and published by . This book was released on 2008 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel Dimitrov
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (131 download)
Download or read book Intergenerational Risk Sharing with Market Liquidity Risk written by Daniel Dimitrov and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the optimal allocation of risk across generations whose savings mix is subject to illiquidity in the form of uncertain trading costs. We use a stylized two-period OLG framework, where each generation makes a portfolio allocation decision for retirement, and show that illiquidity reduces the range of transferable shocks between generations and thus lowers the benefits of risk-sharing. Higher illiquidity then may justify higher levels of risk sharing to compensate for the trading friction. We still find that a contingent transfers policy based on a reasonably parametrized savings portfolio with liquid and illiquid assets increases aggregate welfare.
