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Pension Systems Intergenerational Risk Sharing And Inflation
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Book Synopsis Pension Systems, Intergenerational Risk Sharing and Inflation by : Roel M. W. J. Beetsma
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.
Book Synopsis Pension Systems, Intergenerational Risk Sharing and Inflation by :
Download or read book Pension Systems, Intergenerational Risk Sharing and Inflation written by and published by . This book was released on 2006 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Everywhere in the industrialized world, population aging is putting social security systems under financial strain. As a result, social security systems are being reformed in many countries. In particular, various countries move from pure pay-as-you-go (PAYG) systems to pension systems that include a larger funded component. At the same time, defined benefit systems in which benefits are guaranteed by public or corporate sponsors are being replaced by defined-contribution systems in which benefits are subject to various risks.
Book Synopsis Pension Systems, Intergenerational Risk Sharing and Inflation by : Roel M. W. J. Beetsma
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 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Intergenerational Risk Sharing, Stability and Optimality of Alternative Pension Systems by : John Hassler
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:
Book Synopsis Intergenerational Sharing of Unhedgeable Inflation Risk by : Damiaan H. J. Chen
Download or read book Intergenerational Sharing of Unhedgeable Inflation Risk written by Damiaan H. J. Chen and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore how members of a collective pension scheme can share inflation risks in the absence of suitable financial market instruments. Using intergenerational risk sharing arrangements, risks can be allocated better across the various participants of a collective pension scheme than would be the case in a strictly individual- or cohort-based pension scheme, as these can only lay off risks via existing financial market instruments. Hence, intergenerational sharing of these risks enhances welfare. In view of the sizes of their funded pension sectors, this would be particularly beneficial for the Netherlands and the U.K.
Author :Christoph Borgmann Publisher :Springer Science & Business Media ISBN 13 :9783540222682 Total Pages :202 pages Book Rating :4.2/5 (226 download)
Book Synopsis Social Security, Demographics, and Risk by : Christoph Borgmann
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.
Book Synopsis Voluntary Participation and Intergenerational Risk Sharing in a Funded Pension System by : Roel M. W. J. Beetsma
Download or read book Voluntary Participation and Intergenerational Risk Sharing in a Funded Pension System written by Roel M. W. J. Beetsma and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We explore the feasibility of a funded pension system with intergenerational risk sharing when participation in the system is voluntary. Typically, the willingness of the young to participate depends on their belief about the future young's willingness to do so. We characterise equilibria with voluntary participation and show that the likelihood of their existence increases with risk aversion and financial market uncertainty. We find that it is likely that mandatory participation is necessary to sustain a funded pension pillar and to let participants benefit from intergenerational risk sharing.
Book Synopsis Voluntary participation and intergenerational risk sharing in a funded pension system by : Roel M. W. J. Beetsma
Download or read book Voluntary participation and intergenerational risk sharing in a funded pension system written by Roel M. W. J. Beetsma and published by . This book was released on 2011 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Intergenerational Risk-Sharing & Risk-Taking of a Pension Fund by :
Download or read book Intergenerational Risk-Sharing & Risk-Taking of a Pension Fund written by and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Intergenerational Risk Sharing in Time-consistent Funded Pension Schemes by : Eduard Willem Michiel Theodoor Westerhout
Download or read book Intergenerational Risk Sharing in Time-consistent Funded Pension Schemes written by Eduard Willem Michiel Theodoor Westerhout and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Intergenerational Risk-sharing and Risk-taking of a Pension Fund by : Christian Gollier
Download or read book Intergenerational Risk-sharing and Risk-taking of a Pension Fund written by Christian Gollier and published by . This book was released on 2007 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis INTERGENERATIONAL RISK SHARING, STABILITY AND OPTIMALITY OF ALTERNATIVE PENSION SYSTEM by : John HASSLER
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:
Book Synopsis Intergenerational Risk Sharing within Funded Pension Schemes by : Jiajia Cui
Download or read book Intergenerational Risk Sharing within Funded Pension Schemes written by Jiajia Cui and published by . This book was released on 2009 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study risk sharing between generations for a variety of realistic collective funded pension schemes, where pension benefits and contributions may depend on the funding ratio and the asset returns. The collective pension schemes organizing intergenerational risk sharing are optimized with respect to generosity of pension benefits, asset allocation and risk allocation rules. Using contingent claims valuation method, we calculate the market value of the transfers between generations. We perform a welfare comparison between the collective plans with intergenerational risk sharing and the optimal individual benchmark. We show that well-structured intergenerational risk sharing is a zero-sum game in market value terms, but can be welfare-enhancing vis-a-vis the benchmark. The expected welfare for the future entering generations is higher than for the current entry generation. Even initially underfunded collective funds may provide higher utilities than the optimal individual benchmark, provided that the initial underfunding is not too severe.
Book Synopsis Intergenerational Risk-sharing Through Funded Pensions and Public Debt by : Damiaan H. J. Chen
Download or read book Intergenerational Risk-sharing Through Funded Pensions and Public Debt written by Damiaan H. J. Chen and published by . This book was released on 2014 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Reforming the Greek Pension System by : Mr. Alvar Kangur
Download or read book Reforming the Greek Pension System written by Mr. Alvar Kangur and published by International Monetary Fund. This book was released on 2021-07-16 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Greek pension system has been costly, complex, and distortive, which has contributed to Greece’s fiscal problems and discouraged labor force participation. Several attempts to reform the system faltered due to lack of implementation, pushback by vested interests, and court rulings leading to reversals. A series of reforms introduced throughout 2015–17 unified benefit and contribution rules, removed several distortions and reduced fragmentation and costs. If fully implemented throughout the long-term, these reforms can go a long way towards enhancing the pension system affordability. However, reforms faced setbacks and fell short of creating stronger incentives to build long contribution histories, to deliver sustainable growth by improving the fiscal policy mix, and to ensure fairness and equitable burden sharing across generations and interest groups. Policy priorities should aim towards fully implementing the 2015–17 reforms and complementing them with additional reforms to address these remaining objectives.
Book Synopsis The Future of Multi-Pillar Pensions by : Lans Bovenberg
Download or read book The Future of Multi-Pillar Pensions written by Lans Bovenberg and published by Cambridge University Press. This book was released on 2012-06-21 with total page 435 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pension systems are under serious pressure worldwide. This pressure stems not only from the well-known trend of population aging, but also from those of increasing heterogeneity of the population and increasing labour mobility. The current economic crisis has aggravated these problems, thereby exposing the vulnerability of many pension schemes to macroeconomic shocks. This book reconsiders the multi-pillar pension scheme against the background of these pressures. It adopts an integral perspective and asks how the pension system as a whole contributes to the three basic functions of pension schemes: facilitating life-cycle financial planning, insuring idiosyncratic risks and sharing macroeconomic risks across generations. It focuses on the optimal balance between the various pension pillars and on the optimal design of each of the schemes. It sketches a number of economic trade-offs, showing that countries may opt for different pension schemes depending on how they react to these trade-offs.
Book Synopsis Reforming Pensions: Principles and Policy Choices by : Nicholas Barr
Download or read book Reforming Pensions: Principles and Policy Choices written by Nicholas Barr and published by Oxford University Press. This book was released on 2008-09-17 with total page 763 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not consistent with three long-run trends: declining mortality, declining fertility, and earlier retirement. Many systems need reform. This book gives an extensive nontechnical explanation of the economics of pension design. The theoretical arguments have three elements: * Pension systems have multiple objectives--consumption smoothing, insurance, poverty relief, and redistribution. Good policy needs to bear them all in mind. * Good analysis should be framed in a second-best context-- simple economic models are a bad guide to policy design in a world with imperfect information and decision-making, incomplete markets and taxation. * Any choice of pension system has risk-sharing and distributional consequences, which the book recognizes explicitly. Barr and Diamond's analysis includes labor markets, capital markets, risk sharing, and gender and family, with comparison of PAYG and funded systems, recognizing that the suitable level of funding differs by country. Alongside the economic principles of good design, policy must also take account of a country's capacity to implement the system. Thus the theoretical analysis is complemented by discussion of implementation, and of experiences, both good and bad, in many countries, with particular attention to Chile and China.
