| Reference : Optimal mix of funded and unfunded pension systems: the case of Luxembourg |
| E-prints/Working papers : Already available on another site | |||
| Business & economic sciences : Finance | |||
| http://hdl.handle.net/10993/6905 | |||
| Optimal mix of funded and unfunded pension systems: the case of Luxembourg | |
| English | |
Guigou, Jean-Daniel  [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Luxembourg School of Finance (LSF) >] | |
| Lovat, Bruno [> >] | |
| Schiltz, Jang [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Luxembourg School of Finance (LSF) >] | |
| 2012 | |
| University of Luembourg | |
| LSF Working Papers 2012-13 | |
| 22 | |
| No | |
| Luxembourg | |
| Luxembourg | |
| [en] Pension systems ; Pay-as-you-go ; Semiparametric mixture model ; Salary trajectories | |
| [en] Financing of the Luxembourg pension system is based on a pay-as-you-go (PAYG) system
<br />and hence on an inter-generational contract. As is the case for most other European <br />countries, this system will be exposed to the effects of demographic ageing over the coming <br />decades. <br />The aim of this paper is to develop a model that allows to evaluate the efficiency of a <br />diversified pension system financed partly by a pay-as-you-go scheme and partly by <br />capitalisation. The efficiency is measured by the long term sustainability of the system. We <br />compare the sustainability of our model to the one of a pure pay-as-you-go system. | |
| http://hdl.handle.net/10993/6905 | |
| also: http://hdl.handle.net/10993/8274 | |
| http://wwwen.uni.lu/recherche/fdef/luxembourg_school_of_finance_research_in_finance/working_papers/working_papers_2012 |
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