Blar i Discussion papers (SAM) på emneord "persistence in income shock"
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The risk sharing effects of social security and the stochastic properties of income growth
(Discussion paper, Working paper, 2003-05)Time-series analyses suggest that income shocks are fairly persistent. This has implications for the intergenerational risk-sharing effects of pay-as-you- go (paygo) social security programs. By means of a simple stochastic ...