search query: @indexterm RISK SHARING / total: 46
reference: 8 / 46
| Author: | Fehr, H. Habermann, C. |
| Title: | Risk sharing and efficiency implications of progressive pension arrangements |
| Journal: | Scandinavian Journal of Economics
2008 : VOL. 110:2, p. 419-443 |
| Index terms: | labour supply overlapping-generations models pension schemes risk sharing Germany |
| Language: | eng |
| Abstract: | The aim of this article is to quantify the welfare effects of progressive pension arrangements in Germany. Basic allowances for contributions and a flat benefit fraction are introduced starting from a purely contribution-related benefit system. The labour supply, the liquidity and the insurance effects of the policy reform are compared taking into account variable labour supply, borrowing constraints and stochastic income risk. The simulations indicate that it would be optimal to introduce a flat benefit share of 50% and a basic allowance that amounts to 30% of average income. |
SCIMA