LIFE-CYCLE VALUATION OF SOCIAL-SECURITY AND PENSION WEALTH
成果类型：
Article
署名作者：
MIRER, TW
刊物名称：
JOURNAL OF PUBLIC ECONOMICS
ISSN/ISSBN：
0047-2727
DOI：
10.1016/0047-2727(92)90014-7
发表日期：
1992
页码：
377-384
关键词：
摘要：
The proper valuation of annuity wealth is important for many empirical studies of economic behavior and the distribution of wealth and well-being. This paper examines Bernheim's argument that the value of Socia Security benefit streams should be determined by simple discounting, rather than by actuarial discounting, when consumers behave according to life-cycle principles. In a model having a more realistic mortality structure than his, we document the poor performance of both methods for a broad range of parameter values.
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