scholarly journals Intergenerational Risk Sharing and Labour Supply in Collective Funded Pension Schemes with Defined Benefits

2010 ◽  
Author(s):  
Jan Bonenkamp ◽  
Ed Westerhout
Keyword(s):  
Risk Sharing ◽  
Labour Supply ◽  
Pension Schemes ◽  
Intergenerational Risk ◽  
Defined Benefits ◽  
Intergenerational Risk Sharing

Intergenerational Risk Sharing and Endogenous Labour Supply within Funded Pension Schemes

Economica ◽  
2014 ◽  
Vol 81 (323) ◽  
pp. 566-592 ◽  
Author(s):  
Jan Bonenkamp ◽  
Ed Westerhout
Keyword(s):  
Risk Sharing ◽  
Labour Supply ◽  
Pension Schemes ◽  
Intergenerational Risk ◽  
Intergenerational Risk Sharing

scholarly journals Intergenerational Risk Sharing within Funded Pension Schemes

2009 ◽  
Author(s):  
Jiajia Cui ◽  
Frank de Jong ◽  
Eduard Ponds
Keyword(s):  
Risk Sharing ◽  
Pension Schemes ◽  
Intergenerational Risk ◽  
Intergenerational Risk Sharing

scholarly journals Intergenerational risk sharing within funded pension schemes

2010 ◽  
Vol 10 (1) ◽  
pp. 1-29 ◽  
Author(s):  
JIAJIA CUI ◽  
FRANK DE JONG ◽  
EDUARD PONDS
Keyword(s):  
Risk Sharing ◽  
Asset Returns ◽  
Olg Model ◽  
Welfare Gain ◽  
Pension Schemes ◽  
Intergenerational Risk ◽  
Entry Cohort ◽  
Intergenerational Risk Sharing ◽  
The Cost ◽  
Pension Benefits

AbstractIs intergenerational risk sharing desirable and feasible in funded pension schemes? Using a multi-period OLG model, we study risk sharing between generations for a variety of realistic collective funded pension schemes, where pension benefits and contributions may depend on the funding ratio and the asset returns. We find that well-structured intergenerational risk sharing via collective schemes can be welfare-enhancing vis-à-vis the optimal individual benchmark. Moreover, from an ex ante perspective the expected welfare gain of the current entry cohort is not at the cost of the older and future cohorts.

Intergenerational Risk Sharing, Pensions, and Endogenous Labour Supply in General Equilibrium*

2013 ◽  
Vol 115 (1) ◽  
pp. 141-154 ◽  
Author(s):  
Roel M. W. J. Beetsma ◽  
Ward E. Romp ◽  
Siert J. Vos
Keyword(s):  
General Equilibrium ◽  
Risk Sharing ◽  
Labour Supply ◽  
Intergenerational Risk ◽  
Intergenerational Risk Sharing

scholarly journals Defined benefit pension schemes: a welfare analysis of risk sharing and labour market distortions

2015 ◽  
Vol 16 (4) ◽  
pp. 467-484 ◽  
Author(s):  
NICK DRAPER ◽  
ED WESTERHOUT ◽  
ANDRÉ NIBBELINK
Keyword(s):  
Risk Sharing ◽  
Overlapping Generations ◽  
Labour Supply ◽  
Pension Scheme ◽  
Defined Benefit ◽  
Pension Schemes ◽  
Two Factors ◽  
Intergenerational Risk Sharing ◽  
The Cost

AbstractTraditionally, collective defined benefit pension schemes have played an important role in the provision of pensions. Various trends such as population ageing put these schemes under serious pressure, however. Whether this is good or bad depends among other things on two factors: one is the value of the risk sharing between generations that is organized by pension schemes, and another is the cost of the distortions of labour supply decisions that these collective schemes imply. This paper constructs a model with overlapping generations of households and a pension scheme to assess the role of these two factors. The paper finds that the welfare gain from intergenerational risk sharing generally dominates the cost of labour supply distortions.

scholarly journals International Welfare Spillovers of National Pension Schemes

2020 ◽  
Vol 0 (0) ◽  
Author(s):  
James Staveley-O’Carroll ◽  
Olena M. Staveley-O’Carroll
Keyword(s):  
Risk Sharing ◽  
Overlapping Generations Model ◽  
Welfare Losses ◽  
Intergenerational Risk ◽  
Household Portfolio ◽  
Defined Benefits ◽  
Intergenerational Risk Sharing ◽  
Defined Contributions ◽  
Home Workers ◽  
At Home

AbstractWe employ a two-country overlapping-generations model to explore the international dimension of household portfolio choices induced by the asymmetric provision of government-run pensions. We study the resulting patterns of risk-sharing and the corresponding welfare effects on both home and foreign agents. Introducing the defined benefits pay-as-you-go system at home increases the welfare of all other agents at the expense of the home workers and improves the degree of intergenerational risk sharing abroad. Conversely, a defined contributions system leads to welfare losses of both home cohorts accompanied by gains abroad, but does increase the extent of intergenerational risk sharing at home.

scholarly journals Political intergenerational risk sharing

2010 ◽  
Vol 94 (9-10) ◽  
pp. 628-637 ◽  
Author(s):  
Marcello D'Amato ◽  
Vincenzo Galasso
Keyword(s):  
Risk Sharing ◽  
Intergenerational Risk ◽  
Intergenerational Risk Sharing
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