Pensionomics

Download or Read online Pensionomics full in PDF, ePub and kindle. This book written by Matthias F. Jäkel and published by Springer Science & Business Media which was released on 06 October 2006 with total pages 316. We cannot guarantee that Pensionomics book is available in the library, click Get Book button to download or read online books. Join over 650.000 happy Readers and READ as many books as you like.

Pensionomics
Author :
Publisher : Springer Science & Business Media
Release Date :
ISBN : 9783540346692
Pages : 316 pages
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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.

Pensionomics

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

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