The desirability of pay-as-you-go pensions when relative consumption matters and returns are stochastic

C-Tier
Journal: Economics Letters
Year: 2012
Volume: 117
Issue: 2
Pages: 418-422

Authors (2)

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Under concerns for relative consumption a PAYG system becomes more attractive because it insures pensioners against the risk of being outperformed, but it becomes potentially less effective in hedging the risks associated with financial markets. The net effect is ambiguous.

Technical Details

RePEc Handle
repec:eee:ecolet:v:117:y:2012:i:2:p:418-422
Journal Field
General
Author Count
2
Added to Database
2026-01-24