Intergenerational Risk Sharing and the Design of Pay-as-you-Go Pension Programs.

Different versions of pay-as-you-go public pension programs may have entirely different effects on the intergenerational distribution of income risk. If the pension benefit is a fixed proportion of previous income, a pay-as-you-go program increases the income risk of all generations. On the other hand, a pay-as-you-go program characterized by a fixed inome tax rate and uncertain pension benefits provides intergenerational risk sharing.

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Year of publication:	1996
Authors:	Thogersen, O.
Institutions:	Norges Handelshøyskole (NHH)
Subject:	RISK \| PENSION FUNDS \| SOCIAL SECURITY

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Series:	Norwegian School of Economics and Business Administration-.
Type of publication:	Book / Working Paper
Notes:	6 pages
Classification:	D80 - Information and Uncertainty. General ; D81 - Criteria for Decision-Making under Risk and Uncertainty ; H50 - National Government Expenditures and Related Policies. General ; H55 - Social Security and Public Pensions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005672011