Get Free Shipping on orders over $79
Pensionomics : On the Role of Paygo in Pension Portfolios - Matthias F. Jdkel

Pensionomics

On the Role of Paygo in Pension Portfolios

By: Matthias F. Jdkel, Matthias F. Jkel, Matthias F. Jakel

Paperback | 21 April 2006

At a Glance

Paperback


$169.00

or 4 interest-free payments of $42.25 with

 or 

Ships in 5 to 7 business days

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: if risk-averse investors were able to directly invest into the present value of future labour income, they would allocate their pension portfolios in both human and physical 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. This replication works regardless of the demographic development.Therefore, PAYGO should play a key role in optimising the risk-return combinations for old-age savings.

More in Finance

She's on the Money : Take Charge of Your Financial Future - Victoria Devine
The Warren Buffett Way : 30th Anniversary Edition - Robert G. Hagstrom

RRP $49.95

$38.75

22%
OFF
Sort Your Property Out : And Build Your Future - John Pidgeon

RRP $32.95

$26.99

18%
OFF
The Art of Spending Money : Simple Choices for a Richer Life - Morgan Housel
The Trading Game : A Confession - Gary Stevenson

RRP $26.99

$22.99

15%
OFF
Technofeudalism : What Killed Capitalism - Yanis Varoufakis

RRP $26.99

$22.99

15%
OFF