Beschreibung:
The issue of unfunded public pension systems have moved to the centre of public debate all over the world. Unfortunately, a large part of the discussions have remained on a qualitative level. This book seeks to address this by providing detailed knowledge on modelling pension systems.
Comparative discussion of pension systemsSolutions to all the problems are provided at the end of the bookDetailed information of modelling pension systems
List of Figures List of Tables Introduction Part I - Micro Level 1 Life cycle 2 Life insurance with life annuity 3 Fully funded systems 4 Unfunded systems 5 Mixed systems 6 Contributions, taxes and inflation Part II - Macro Level 7 Demographic process 8 Macroeconomics of pension systems 9 Transition between pension systems 10 Distribution of pensions Part III - Special Topics 11 Optimal consumption path 12 Flexible retirement 13 A closed model of overlapping cohorts 14 Macroeffects of combined indexation 15 Prefunding the unfunded system 16 A dynamic model of German pension reform 17 Political models 18 General pension accounting for Hungary 19 Closing remarks A - Designing optimal benefit rules B - Overlapping generations Solutions to problems Notations References Index