Expectations on pension schemes under non-stationary conditions

The way expectations are treated in models concerning pension schemes in generally decisive for their predicted development. In this letter we show how these expectations can consistently be modeled in a dynamic context, without having to rely on adhoc assumptions.

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Bibliographic Details
Published in:Economics letters 1991, Vol.36 (1), p.99-103
Main Authors: Verhoeven, Marijn J.M., Verbon, Harrie A.A.
Format: Article
Language:English
Subjects:
Expectation
Pension schemes
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Summary:The way expectations are treated in models concerning pension schemes in generally decisive for their predicted development. In this letter we show how these expectations can consistently be modeled in a dynamic context, without having to rely on adhoc assumptions.
ISSN:0165-1765
1873-7374
DOI:10.1016/0165-1765(91)90063-Q