We analyze the effect of means-tested benefits on annuitization decisions. Most industrialized countries provide a subsistence level consumption floor in old age, usually in the form of means-tested benefits. The availability of such means-tested payments creates an incentive to cash out...

We analyze the effect of means-tested benefits on annuitization decisions. Most industrialized countries provide a subsistence level consumption floor in old age, usually in the form of means-tested benefits. The availability of such means-tested payments creates an incentive to cash out...

We analyze the effect of means-tested benefits on annuitization decisions. Most industrialized countries provide a subsistence level consumption floor in old age, usually in the form of means-tested benefits. The availability of such means-tested payments creates an incentive to cash out...

In einem kürzlich in der Zeitschrift "Finanzarchiv" erschienenen Beitrag untersuchte B. Raffelhüschen, wie sich eine Volkswirtschaft an das Umlageverfahren anpaßt. Er verwendete dafür das Diamond-Generationen-Modell, welches er für seine Simulation geeignet spezifizierte und Daten der...