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1 - 10 van 30 voor life insurance contracts
Microsoft Word - cpbdoc_tang.doc
... to the next generation through bequests.8 second, people have uncertain life spans and they cannot write perfect life insurance contracts, so that bequests are sometimes unintended (cf. davies, 1981). third, ... programme to provide assistance to those who saw their income decline and to provide insurance against labour market risks such as disability and unemployment. public pension systems can ...
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Microsoft Word - Charting CPB's course.doc
... to programmes % of column total labour market ageing and life cycle policies pensions macro analysis productivity education and public ... 4 erik schut eur, rotterdam economics of healthcare, health insurance 4 jan rouwendal vu amsterdam spatial economics, housing market ... like requests for internships, can occasionally be met through temporary contracts. in this way cpb may become acquainted with the ...
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analyzing labour supply elderly people life cycle approach pdf
... these probabilities are incorporated in the interest rate and reflect the presence of life-insurance or annuity markets, where competitive life insurance firms make payments to individuals (as a function of their asset ... t discrepancies between wage and productivity over the life cycle may arise for different reasons, for example due to the presence of implicit contracts. see e.g. de hek and van ...
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cpb book labour market flexibility netherlands 0 pdf
... search for the right job. differences over the life cycle suggest that many careers follow a pattern from temporary contracts to permanent contracts. at more advanced ages, some move on ... low (see the subsection on flexibility). 8 the combination of permanent contracts and unemployment insurance nevertheless offers income insurance and employment protection in the form of firing taxes, which may be ...
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Dia 1
... insurance companies annuity markets b. government c. pension funds no unique solution alternative models for pension system three functions 1. facilitating life-cycle financial planning - smoothing consumption over the life ... implicit open accounts system make pension contract more transparant by explicit contracts abolish system of ,,hard nominal entitlements and soft indexation allocate financial ...
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Microsoft Word - discussion165.doc
... others. 8 in principle, case in, for instance, lazear style implicit contracts, worker preferences theory, and insurance theories. however, deferred compensation schemes may be inefficient if they ... theories testable implication main finding literature incentive theory (lsic) the life-cycle wage profile is steeper than the life-cycle productivity profile. (+) self-employed workers have less ...
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disc159.pdf
... makers in countries with an extensive unemployment and disability insurance system often propose policies that imply more respon- sibility ... earnings variance (guiso, jappelli, and terlizzese 1992) and observed life-cycle income variation. 3.1 subjective earnings variance we ... . this is also true for the netherlands, where labor contracts are actually binding at national level. however while lusardi ( ...
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Microsoft Word - cpbdoc96
... products. in addition to improving transparency, policymakers may also regulate the terms of the contracts between life insurance firms and financial advisors. by excluding certain types of contract conditions, it ... relevant. so-called volume contracts are explicitly forbidden. in addition, financial advisors are not allowed to take out loans from banks or life insurance firms for which they sell ...
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intergenerational risk sharing pdf
... generations cannot sign insurance contracts with those who are not born yet. this market incompleteness leaves a role for collective institutions like pension funds. by offering collective contracts, pension funds are ... is modelled as a representative household who consumes in the two periods of his life and can supply labour when young. we abstract from demographic risk all generations are ...
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dp182retirement flexibility and portfolio choice pdf
... pension contracts will affect consumption and portfolio decisions during working life. as stressed in the literature, the important advantage of retirement flexibility is that it provides insurance ... for private or public pension institutions, like corporate pension funds, trust funds or life-insurance companies, to which individuals have dedicated or will dedicate their saving and investment ...
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