Arbeitspapier
Generational Accounting, Solidarity and Pension Losses
The stock market collapse led to political tensions between generations due to the fuzzy definition of the property rights over the pension funds’ wealth. The problem is best resolved by the introduction of generational accounts. Modern consumption and portfolio theory shows that the younger generations should have the higher equity exposure due to their human capital. Stock market losses should be distributed smoothly over lifetime consumption by adjusting both current contributions and future entitlements. We present expressions for the substantial welfare losses involved in various practically relevant deviations from the optimal system.
- Sprache
-
Englisch
- Erschienen in
-
Series: Tinbergen Institute Discussion Paper ; No. 03-094/3
- Klassifikation
-
Wirtschaft
Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
Social Security and Public Pensions
- Thema
-
Saving & investment
Financial institutions
Pension funds
Private pensions
Social security and public pensions
Pensionskasse
Private Altersvorsorge
Finanzkrise
Gesetzliche Rentenversicherung
Generationengerechtigkeit
Solidarität
Generationengerechtigkeit
Portfolio-Management
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Teulings, Coen N.
de Vries, Casper G.
- Ereignis
-
Veröffentlichung
- (wer)
-
Tinbergen Institute
- (wo)
-
Amsterdam and Rotterdam
- (wann)
-
2003
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Teulings, Coen N.
- de Vries, Casper G.
- Tinbergen Institute
Entstanden
- 2003
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