Browsing Discussion papers (SAM) by Subject "persistence in income shocks"
Now showing items 1-2 of 2
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Intergenerational risk sharing by means of pay-as-you-go : an investigation of alternative mechanisms
(Discussion paper, Working paper, 2006-06)A pay-as-you-go (paygo) pension program may provide intergenerational pooling of risks to individuals’ labor and capital income over the life cycle. By means of illuminating closed form solutions we demonstrate that the ... -
Intergenerational risk sharing by means of pay-as-you-go programs : an investigation of alternative mechanisms
(Discussion paper, Working paper, 2006-06)A pay-as-you-go (paygo) pension program may provide intergenerational pooling of risks to individuals’ labor and capital income over the life cycle. By means of illuminating closed form solutions we demonstrate that the ...