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Risiken im Lebenszyklus: Theorie und Evidenz

  • Axel Börsch-Supan
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    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. Copyright Verein für Socialpolitik und Blackwell Publishers Ltd, 2005

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    Article provided by Verein für Socialpolitik in its journal Perspektiven der Wirtschaftspolitik.

    Volume (Year): 6 (2005)
    Issue (Month): 4 (November)
    Pages: 449-469

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    Handle: RePEc:bla:perwir:v:6:y:2005:i:4:p:449-469
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    5. Axel Börsch-Supan & Alexander Ludwig & Joachim Winter, 2004. "Aging, Pension Reform, and Capital Flows: A Multi-Country Simulation Model," MEA discussion paper series 04064, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
    6. David Laibson, 1997. "Golden Eggs and Hyperbolic Discounting," The Quarterly Journal of Economics, Oxford University Press, vol. 112(2), pages 443-478.
    7. Sinn, Hans-Werner, 1996. "Social Insurance, Incentives and Risk Taking," Munich Reprints in Economics 19834, University of Munich, Department of Economics.
    8. von Gaudecker, Hans-Martin & Weber II, Carsten, 2003. "Surprises in a Growing Market Niche - An Evaluation of the German Private Annuities Market," Sonderforschungsbereich 504 Publications 03-08, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
    9. Stephen P. Zeldes, 1989. "Optimal Consumption with Stochastic Income: Deviations from Certainty Equivalence," The Quarterly Journal of Economics, Oxford University Press, vol. 104(2), pages 275-298.
    10. Euwals, Rob, 2000. "Do Mandatory Pensions Decrease Household Savings? Evidence for the Netherlands," IZA Discussion Papers 113, Institute for the Study of Labor (IZA).
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    15. George M. Constantinides & John B. Donaldson & Rajnish Mehra, 2002. "Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle," The Quarterly Journal of Economics, Oxford University Press, vol. 117(1), pages 269-296.
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    20. Marshall, CBE, FBA, P.J., 2003. "Proceedings of the British Academy, Volume 120, Biographical Memoirs of Fellows, II," OUP Catalogue, Oxford University Press, number 9780197263020, December.
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    24. repec:mea:ivswpa:605 is not listed on IDEAS
    25. Jappelli, Tullio, 1995. "Does social security reduce the accumulation of private wealth? Evidence from Italian survey data," Ricerche Economiche, Elsevier, vol. 49(1), pages 1-31, March.
    26. Deaton, Angus, 1992. "Understanding Consumption," OUP Catalogue, Oxford University Press, number 9780198288244, December.
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