Matches in SemOpenAlex for { <https://semopenalex.org/work/W3002056846> ?p ?o ?g. }
Showing items 1 to 70 of
70
with 100 items per page.
- W3002056846 abstract "Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings, mandatory fully-funded occupational pension systems, mandatory social security financed by pay-as-you-go, and old-fashioned hoarding in cash. Here, we call the specific mixture of the four systems the pension composition. We assume that individual workers decide on their own individual savings, that the fully-funded occupational system is decided upon by the age cohort of the median worker (MW), and that the social security is decided upon by the median voter (MV). In this behavioral approach we distinguish between several social groups, where individuals belong to several groups simultaneously and where the interests of the different groups are only partly coinciding. For a given demography and interest rate, the joint result of the decisions of the different age cohorts is a Pareto equilibrium.For ease of exposition we assume that individual and collective pension savings are the only sources of capital supply. When capital supply equals demand from industry there is equilibrium in the capital market with a corresponding equilibrium interest rate. In this paper we assume a demography with one hundred age brackets and we investigate how changes in the birth rates, survival rates, and the retirement age affect the pension composition and the capital market equilibrium.Our conclusion is that the demographic effects are considerable not only for the resulting pension composition but also for macro-economic variables such as the wage rate, the interest rate, and the capital-income ratio. It follows that the pension composition in general and social security in particular is determined by the demography and cannot be modified at will as a long-term political instrument. We find that this is relevant for the present century, where birth and mortality rates in most western countries are steeply declining." @default.
- W3002056846 created "2020-01-30" @default.
- W3002056846 creator A5019689412 @default.
- W3002056846 creator A5079196449 @default.
- W3002056846 date "2020-01-01" @default.
- W3002056846 modified "2023-10-03" @default.
- W3002056846 title "Demography and Provisions for Retirement: The Pension Composition, a Behavioral Approach" @default.
- W3002056846 doi "https://doi.org/10.2139/ssrn.3525237" @default.
- W3002056846 hasPublicationYear "2020" @default.
- W3002056846 type Work @default.
- W3002056846 sameAs 3002056846 @default.
- W3002056846 citedByCount "0" @default.
- W3002056846 crossrefType "journal-article" @default.
- W3002056846 hasAuthorship W3002056846A5019689412 @default.
- W3002056846 hasAuthorship W3002056846A5079196449 @default.
- W3002056846 hasBestOaLocation W30020568462 @default.
- W3002056846 hasConcept C10138342 @default.
- W3002056846 hasConcept C145236788 @default.
- W3002056846 hasConcept C162324750 @default.
- W3002056846 hasConcept C165287380 @default.
- W3002056846 hasConcept C166957645 @default.
- W3002056846 hasConcept C18903297 @default.
- W3002056846 hasConcept C2777111884 @default.
- W3002056846 hasConcept C2777288899 @default.
- W3002056846 hasConcept C2777388388 @default.
- W3002056846 hasConcept C2780899237 @default.
- W3002056846 hasConcept C2781092381 @default.
- W3002056846 hasConcept C34447519 @default.
- W3002056846 hasConcept C4249254 @default.
- W3002056846 hasConcept C83646750 @default.
- W3002056846 hasConcept C86803240 @default.
- W3002056846 hasConcept C95457728 @default.
- W3002056846 hasConceptScore W3002056846C10138342 @default.
- W3002056846 hasConceptScore W3002056846C145236788 @default.
- W3002056846 hasConceptScore W3002056846C162324750 @default.
- W3002056846 hasConceptScore W3002056846C165287380 @default.
- W3002056846 hasConceptScore W3002056846C166957645 @default.
- W3002056846 hasConceptScore W3002056846C18903297 @default.
- W3002056846 hasConceptScore W3002056846C2777111884 @default.
- W3002056846 hasConceptScore W3002056846C2777288899 @default.
- W3002056846 hasConceptScore W3002056846C2777388388 @default.
- W3002056846 hasConceptScore W3002056846C2780899237 @default.
- W3002056846 hasConceptScore W3002056846C2781092381 @default.
- W3002056846 hasConceptScore W3002056846C34447519 @default.
- W3002056846 hasConceptScore W3002056846C4249254 @default.
- W3002056846 hasConceptScore W3002056846C83646750 @default.
- W3002056846 hasConceptScore W3002056846C86803240 @default.
- W3002056846 hasConceptScore W3002056846C95457728 @default.
- W3002056846 hasLocation W30020568461 @default.
- W3002056846 hasLocation W30020568462 @default.
- W3002056846 hasLocation W30020568463 @default.
- W3002056846 hasLocation W30020568464 @default.
- W3002056846 hasLocation W30020568465 @default.
- W3002056846 hasLocation W30020568466 @default.
- W3002056846 hasOpenAccess W3002056846 @default.
- W3002056846 hasPrimaryLocation W30020568461 @default.
- W3002056846 hasRelatedWork W10929752 @default.
- W3002056846 hasRelatedWork W1171677 @default.
- W3002056846 hasRelatedWork W13860670 @default.
- W3002056846 hasRelatedWork W1504955 @default.
- W3002056846 hasRelatedWork W15122747 @default.
- W3002056846 hasRelatedWork W15823564 @default.
- W3002056846 hasRelatedWork W15958416 @default.
- W3002056846 hasRelatedWork W3232864 @default.
- W3002056846 hasRelatedWork W628963 @default.
- W3002056846 hasRelatedWork W15393149 @default.
- W3002056846 isParatext "false" @default.
- W3002056846 isRetracted "false" @default.
- W3002056846 magId "3002056846" @default.
- W3002056846 workType "article" @default.