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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| Format: | Electronic eBook |
| Language: | English |
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Berlin, Heidelberg :
Springer Berlin Heidelberg,
2006.
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| Series: | Lecture Notes in Economics and Mathematical Systems,
572 |
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| Online Access: | Full Text via HEAL-Link |
