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In this paper we analyze exemplarily the volatility of the internal rates of return of the German pension system over the life-cycle of an individual born in 1957. The outcome is compared to an alternative defined-contribution or defined-benefit policy. Based on the actual data, our resultsshow...
Persistent link: https://www.econbiz.de/10010300850
In this paper we analyze exemplarily the volatility of the internal rates of return of the German pension system over the life-cycle of an individual born in 1957. The outcome is compared to an alternative defined-contribution or defined-benefit policy. Based on the actual data, our resultsshow...
Persistent link: https://www.econbiz.de/10010980902
The economic crisis has a negative impact on public finances and projects that require long-term investment so the main consequence is that the access to finance for the implementation of PPPs and not only to this kind of investment projects has been limited due to the following factors:...
Persistent link: https://www.econbiz.de/10010940628
This paper studies the normative problem of redistribution between agents who can influence their survival probability through private health spending, but who differ in their attitude towards the risks involved in the lotteries of life to be chosen. For that purpose, we develop a two-period...
Persistent link: https://www.econbiz.de/10005043161
against unintentional child injuries by identifying the socioeconomic risk factors for injury. Socioeconomic data from the … a younger, less educated mother are more at risk of getting injured. Paternal characteristics turned out to have an …
Persistent link: https://www.econbiz.de/10008677436
We develop a method to estimate domain-specific risk. We apply the method to sickness insurance by fitting a utility … risk aversion increases with income. Second, marginal utility is higher in the sick state conditional on income, due to an … observed fixed cost of sickness. Third, the domain-specificity of risk shifts the focus on the smoothing of utility, not …
Persistent link: https://www.econbiz.de/10011865458
relationship between inequality of entitlements, mortality risk, and the size of redistribution in a stylized social security … system. We find that mortality risk, when negatively correlated with entitlements, significantly lowers subjects’ willingness …
Persistent link: https://www.econbiz.de/10013266642
During the active years one sets aside for savings a certain proportion of labour income. In defined contribution (DC) pension plans, this money is invested in assets according to certain investment strategies and earns a return. Once one reaches retirement, the assets accumulated would need to...
Persistent link: https://www.econbiz.de/10010930530
We develop a method to estimate domain-specific risk. We apply the method to sickness insurance by fitting a utility … risk aversion increases with income. Second, marginal utility is higher in the sick state conditional on income, due to an … observed fixed cost of sickness. Third, the domain-specificity of risk shifts the focus on the smoothing of utility, not …
Persistent link: https://www.econbiz.de/10011873543
relationship between inequality of entitlements, mortality risk, and the size of redistribution in a stylized social security … system. We find that mortality risk, when negatively correlated with entitlements, significantly lowers subjects’ willingness …
Persistent link: https://www.econbiz.de/10013174148