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Cited by 9 publications
(8 citation statements)
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“…This means that, in keeping with [4], we assume that the pension timal immigration strategy, which steers the population towards a demographic equilibrium, see [3], [14] . In any case, in order to our model, we assume that the wage dynamics of the stable part of the pension system are not modied by the demographic wave.…”
Section: Generalities To Control the Demographic Wavementioning
confidence: 99%
See 1 more Smart Citation
“…This means that, in keeping with [4], we assume that the pension timal immigration strategy, which steers the population towards a demographic equilibrium, see [3], [14] . In any case, in order to our model, we assume that the wage dynamics of the stable part of the pension system are not modied by the demographic wave.…”
Section: Generalities To Control the Demographic Wavementioning
confidence: 99%
“…pressed by(3), is the probabilistic component of the pension liability because its evaluation is based on life tables. From(2) and(3), the dierential equation of evolution of the total pension system is deriveḋ L(t) = L(t)r L (t) + α(t)W (t) − P (t).…”
mentioning
confidence: 99%
“…However, the government's financial investment is a limited liability to ensure the functioning of social insurance rather than the acceptance of full responsibility for the entire scheme. Otherwise, the government would face extreme political and financial pressure that would ultimately result in an unsustainable social insurance scheme (Casamatta et al 2000;Angrisani et al 2012).…”
Section: Theoretical Analysis: the Revenue-expenditure Balance Is Thementioning
confidence: 99%
“…Some analysts believe that social insurance can avoid the adverse selection, moral hazard, exclusion of low-income groups, and reduction of free-rider effects of commercial insurance (Angrisani et al 2012). Social insurance is most beneficial to the unemployed, low-income population and to the elderly who have no children to support them.…”
Section: Theoretical Analysis: the Revenue-expenditure Balance Is Thementioning
confidence: 99%
“…In most of the developed countries, pay-as-you-go (PAYG) pension systems, where pensions are paid from the actual contribution of the active population, face up with serious problems of sustainability due to financial, economic, and demographic uncertainties, see e.g. [1], [2], [3], [4], and [5]. Many countries tried to solve this problem introducing the Defined Contribution (DC) formula, according to which contributions are fixed and benefits depend on the value of assets and returns accumulated.…”
Section: Introductionmentioning
confidence: 99%