Pensionomics: On the Role of PAYGO in Pension Portfolios (2006) (Lecture Notes in Economics and Mathematical Systems #572)
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- Synopsis
- 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.
- Copyright:
- 2006
Book Details
- Book Quality:
- Publisher Quality
- ISBN-13:
- 9783540346692
- Related ISBNs:
- 9783540325970
- Publisher:
- Springer Berlin Heidelberg
- Date of Addition:
- 08/06/22
- Copyrighted By:
- N/A
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance, Social Studies, Mathematics and Statistics, Politics and Government
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.
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- by Matthias F. Jäkel
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