Dutta, J. and Kapur, Sandeep and Orszag, M. (2000) A portfolio approach to the optimal funding of pensions. Economics Letters 69 (2), pp. 201-206. ISSN 0165-1765.
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Official URL: https://doi.org/10.1016/S0165-1765(00)00271-8
Abstract
Fully funded pension systems are advocated for their higher rate of return, but this return is typically risky. Using a simple mean-variance model, we find that mixed funded–unfunded systems are desirable in this setting because they enable risk diversification.
Metadata
| Item Type: | Article |
|---|---|
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Depositing User: | Sarah Hall |
| Date Deposited: | 07 Jul 2020 08:22 |
| Last Modified: | 02 Aug 2023 18:00 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/32469 |
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