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Personal Pensions with Risk sharing: Affordable, Adequate and Stable Private Pensions in Europe

Bovenberg, A Lans; Nijman, Theo E - C.E.P.R. Discussion Papers - 2015

these developments, policyholders desire pensions tailored to their individual needs. This paper proposes a new type of … risk-sharing functions of pensions, PPRs allow risk management and (dis)saving to be customized to the specific features of … illiquid capital, complementing public retirement provision, reducing the interest-rate sensitivity of pensions and smoothing …

Persistent link: https://www.econbiz.de/10011252616

Pension systems, Intergenerational Risk Sharing and Inflation

Beetsma, Roel; Bovenberg, A Lans - C.E.P.R. Discussion Papers - 2007

We investigate intergenerational risk sharing in two-pillar pension systems with a pay-as-you-go pillar and a funded pillar. We consider shocks in productivity, depreciation of capital and inflation. The funded pension pillar can be either defined contribution or defined benefit, with benefits...

Persistent link: https://www.econbiz.de/10005497820

Funded Pensions and Intergenerational and International Risk Sharing in General Equilibrium

Beetsma, Roel; Bovenberg, A Lans; Romp, Ward E - C.E.P.R. Discussion Papers - 2008

-tier pensions systems. The exact design of the funded tier is key for the way in which risks are shared over the various generations …

Persistent link: https://www.econbiz.de/10005662023

Pension Systems and the Allocation of Macroeconomic Risk

Bovenberg, A Lans; Uhlig, Harald - C.E.P.R. Discussion Papers - 2006

This paper explores the optimal risk sharing arrangement between generations in an overlapping generations model with endogenous growth. We allow for nonseparable preferences, paying particular attention to the risk aversion of the old as well as overall 'life-cycle' risk aversion. We provide a...

Persistent link: https://www.econbiz.de/10005662132

Does Income Inequality Lead to Consumption Inequality?

Krueger, Dirk; Perri, Fabrizio - C.E.P.R. Discussion Papers - 2002

This Paper first documents the evolution of the cross-sectional income and consumption distribution in the US in the past 25 years. Using data from the Consumer Expenditure Survey we find that a rising income inequality has not been accompanied by a corresponding rise in consumption inequality....

Persistent link: https://www.econbiz.de/10005123551

Competitive Risk Sharing Contracts with One-Sided Commitment

Krueger, Dirk; Uhlig, Harald - C.E.P.R. Discussion Papers - 2004

the agent with an intermediary. We then show that our contract economy is equivalent to a consumption-savings economy with …

Persistent link: https://www.econbiz.de/10005498096