年金と貯蓄が完全な代替とならない理由 - himaginary’s diary

について分析した論文をEconomic Logicが紹介している。 以下はその要旨。 An extended life cycle model is used to investigate how variation in the level of expected pensions influences non-pension wealth accumulation. We try to explain why the offset effects between pension wealth and private savings are not one to one by accounting for different risks and market imperfections, which includes uninsured risk on earnings, mortali