Blar i Centre for Applied Research at NHH (SNF) på emneord "persistence in income shocks"
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Intergenerational risk sharing by means of pay-as-you-go programs : an investigation of alternative mechanisms
(Report, Research report, 2006-05)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 ...