Matthias F. Jäkel
Springer Berlin Heidelberg
2006e druk, 2006
9783540325970
Pensionomics
On the Role of PAYGO in Pension Portfolios
Specificaties
Paperback, 316 blz.
|
Engels
Springer Berlin Heidelberg |
2006e druk, 2006
ISBN13: 9783540325970
Rubricering
Onderdeel van serie
Lecture Notes in Economics and Mathematical Systems
Levertijd ongeveer 8 werkdagen
Samenvatting
Pensionomics puts forward a portfolio perspective on the combination of funded and unfunded pension arrangements. In a second-best type argument it is formally shown that a Pay-As-You-Go pension system can substitute the tradability of human capital. While this ideal form of diversification can not be implemented due to the imperfection of capital markets, one can design a typical Pay-As-You-Go system in such a way that it allows for the same intertemporal consumption allocations as the first-best solution.
Specificaties
ISBN13:9783540325970
Taal:Engels
Bindwijze:paperback
Aantal pagina's:316
Uitgever:Springer Berlin Heidelberg
Druk:2006
Hoofdrubriek:Economie
Inhoudsopgave
The Problem.- Global Aging and Pensionomics.- Methodical Foundation.- The Model.- Tradable Human Capital.- Replication with PAYGO.- The Implications.- Discussion and Assessment.- Conclusion and Further Research.
