Article ID Journal Published Year Pages File Type
7383503 The Quarterly Review of Economics and Finance 2018 13 Pages PDF
Abstract
The paper proves that the pay-as-you-go (paygo) pension system existence is justified on diversification grounds when the correlation between stocks and wages is strictly lower than the ratio of the wage risk price to the stock risk price.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
A simple rule to determine the usefulness of the paygo system on diversification grounds
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