EconPapers    
Economics at your fingertips  
 

Intergenerational Risk Sharing, Stability and Optimality of Alternative Pension Systems

John Hassler () and Assar Lindbeck

Working Papers from Stockholm - International Economic Studies

Abstract: In an analysis of the risk-sharing properties of different types of pension systems, we show that only a fixed-fee pay-as-you-go (PAYG) pension systems can provide intergenerational risk sharing for living individuals. Under some circumstances, however, other PAYG pension systems can enhance the expected welfare of all generations by reducing intergenerational income variability. We derive conditions for this to occur. We also analyze the stability of actuarially fair PAYG pension systems.

Keywords: PENSION FUNDS; RISK; GENERATIONS (search for similar items in EconPapers)
JEL-codes: H5 H6 H55 (search for similar items in EconPapers)
Pages: 37 pages
Date: 1997
References: Add references at CitEc
Citations: View citations in EconPapers (16) Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: Intergenerational Risk Sharing, Stability and Optimality of Alternative Pension Systems (1997) Downloads
Working Paper: Intergenerational Risk Sharing, Stability and Optimality of Alternative Pension Systems (1997) Downloads
Working Paper: Intergenerational Risk Sharing, Stability and Optimality of Alternative Pension Systems (1997) Downloads
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: https://EconPapers.repec.org/RePEc:fth:stocin:631

Access Statistics for this paper

More papers in Working Papers from Stockholm - International Economic Studies UNIVERSITY OF STOCKHOLM, INSTITUTE FOR INTERNATIONAL ECONOMIC STUDIES, S- 106 91 STOCKHOLM SWEDEN.. Contact information at EDIRC.
Bibliographic data for series maintained by Thomas Krichel ().

 
Page updated 2020-08-02
Handle: RePEc:fth:stocin:631