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Risiken im Lebenszyklus: Theorie und Evidenz

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  • Axel Börsch‐Supan

Abstract

Individuals are exposed over the life cycle to considerable biometric, economic, family and political risks. Do we have the right institutions to cover these risks efficiently? We use the term “institutions” in a broad sense comprising individual saving, family help, private insurance and finally the state with its social insurance systems. Where and when do these institutions work efficiently and effectively? Where and when do they fail? What needs to be done to improve them? What does modern „social risk management” look like? The article sketches the theoretical underpinnings of saving behavior, portfolio choice and insurance demand and collects the empirical evidence in order to draw economic policy conclusions.

Suggested Citation

  • Axel Börsch‐Supan, 2005. "Risiken im Lebenszyklus: Theorie und Evidenz," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 6(4), pages 449-469, November.
    • Handle: RePEc:bla:perwir:v:6:y:2005:i:4:p:449-469
    DOI: 10.1111/j.1465-6493.2005.00191.x
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    Cited by:

    1. Heidler, Matthias & Raffelhüschen, Bernd, 2005. "How risky is the German pension system? The volatility of the internal rates of return," FZG Discussion Papers 6, University of Freiburg, Research Center for Generational Contracts (FZG).
    2. David Laibson, 1997. "Golden Eggs and Hyperbolic Discounting," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 443-478.
    3. Heidler, Matthias & Raffelhüschen, Bernd, 2005. "How risky is the German pension system? The volatility of the internal rates of return," Discussion Papers 138, Albert-Ludwigs-Universität Freiburg, Institut für Finanzwissenschaft.

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