Pensions and Intergenerational Risk-sharing in General Equilibrium

Roel Maria Wilhelmus Jozef Beetsma and A. Lans Bovenberg

Economica, 2009, vol. 76, issue 302, pages 364-386

Abstract: We investigate intergenerational risk-sharing in two-pillar pension systems with a pay-as-you-go pillar and a funded pillar. The funded pension pillar can be either defined contribution or defined benefit. Only a defined-benefit scheme with an appropriate investment policy establishes optimal intergenerational risk-sharing. We show how the pension system affects capital markets in general and the equity premium in particular. Copyright (c) The London School of Economics and Political Science 2008.

Date: 2009
View citations in EconPapers

Downloads: (external link)
http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0335.2008.00685.x link to full text (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:bla:econom:v:76:y:2009:i:302:p:364-386

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0013-0427

Access Statistics for this article

Economica is edited by Frank Cowell, Tore Ellingsen and Alan Manning

More articles in Economica from London School of Economics and Political Science
Contact information at EDIRC.
Series data maintained by Christopher F. Baum ().