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Pensionomics

- On the Role of PAYGO in Pension Portfolios

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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.

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  • Sprog:
  • Engelsk
  • ISBN:
  • 9783540325970
  • Indbinding:
  • Paperback
  • Sideantal:
  • 316
  • Udgivet:
  • 21. april 2006
  • Udgave:
  • 2006
  • Størrelse:
  • 234x156x17 mm.
  • Vægt:
  • 1030 g.
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Leveringstid: 8-11 hverdage
Forventet levering: 16. januar 2025

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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.

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