Abstract
This issue features three original research articles and an issues & policy article. The first article in the issue is by David McCarthy (Oxford University, UK). A Life Cycle Analysis of Defined Benefit Plans examines optimal benefit design within the context of a lifecycle model. The model finds that the structure of defined benefit plans is unlikely to be optimal for younger workers. The intuition is straightforward: defined benefit pensions depend heavily on the evolution of a worker's human capital and young workers are already heavily exposed to human capital risks. Older workers however may find wage indexed claims to be more valuable as most other human capital uncertainty has vanished.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
