Pensionomics On the Role of PAYGO in Pension Portfolios /

Pensionomics puts forward a portfolio perspective on the combination of funded and unfunded pension arrangements. In a second-best type argument it is formally shown that a Pay-As-You-Go pension system can substitute the tradability of human capital: if risk-averse investors were able to directly in...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Jäkel, Matthias F. (Autor)
Autor Corporativo: SpringerLink (Online service)
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Berlin, Heidelberg : Springer Berlin Heidelberg : Imprint: Springer, 2006.
Edición:1st ed. 2006.
Colección:Lecture Notes in Economics and Mathematical Systems, 572
Temas:
Macroeconomics.
Population > Economic aspects.
Social policy.
Finance, Public.
Demography.
Population.
Aging.
Macroeconomics and Monetary Economics.
Population Economics.
Social Policy.
Public Economics.
Population and Demography.
Ageing.
Acceso en línea:Texto Completo

MARC

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100 1 |a Jäkel, Matthias F.  |e author.  |4 aut  |4 http://id.loc.gov/vocabulary/relators/aut 
245 1 0 |a Pensionomics  |h [electronic resource] :  |b On the Role of PAYGO in Pension Portfolios /  |c by Matthias F. Jäkel. 
250 |a 1st ed. 2006. 
264 1 |a Berlin, Heidelberg :  |b Springer Berlin Heidelberg :  |b Imprint: Springer,  |c 2006. 
300 |a XII, 316 p.  |b online resource. 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
347 |a text file  |b PDF  |2 rda 
490 1 |a Lecture Notes in Economics and Mathematical Systems,  |x 2196-9957 ;  |v 572 
505 0 |a The Problem -- Global Aging and Pensionomics -- Methodical Foundation -- The Model -- Tradable Human Capital -- Replication with PAYGO -- The Implications -- Discussion and Assessment -- Conclusion and Further Research. 
520 |a Pensionomics puts forward a portfolio perspective on the combination of funded and unfunded pension arrangements. In a second-best type argument it is formally shown that a Pay-As-You-Go pension system can substitute the tradability of human capital: if risk-averse investors were able to directly invest into the present value of future labour income, they would allocate their pension portfolios in both human and physical capital. 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. This replication works regardless of the demographic development.Therefore, PAYGO should play a key role in optimising the risk-return combinations for old-age savings. 
650 0 |a Macroeconomics. 
650 0 |a Population  |x Economic aspects. 
650 0 |a Social policy. 
650 0 |a Finance, Public. 
650 0 |a Demography. 
650 0 |a Population. 
650 0 |a Aging. 
650 1 4 |a Macroeconomics and Monetary Economics. 
650 2 4 |a Population Economics. 
650 2 4 |a Social Policy. 
650 2 4 |a Public Economics. 
650 2 4 |a Population and Demography. 
650 2 4 |a Ageing. 
710 2 |a SpringerLink (Online service) 
773 0 |t Springer Nature eBook 
776 0 8 |i Printed edition:  |z 9783540820840 
776 0 8 |i Printed edition:  |z 9783540325970 
830 0 |a Lecture Notes in Economics and Mathematical Systems,  |x 2196-9957 ;  |v 572 
856 4 0 |u https://doi.uam.elogim.com/10.1007/3-540-34669-4  |z Texto Completo 
912 |a ZDB-2-SBE 
912 |a ZDB-2-SXEF 
950 |a Business and Economics (SpringerNature-11643) 
950 |a Economics and Finance (R0) (SpringerNature-43720) 

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