Long-Run Biological Interest Rate for Pay-As-You-Go Pensions in Advanced and Developing Countries.
How much of an internal rate of return would a sustainable pay-as-you-go pension system offer current and future generations equally? The answer is the sum of the Long-Run Biological Interest Rates (LBIR), the real-world equivalent of Samuelson's (1958) biological interest rate, and future prod...
|Published:||Washington, D.C. : International Monetary Fund, 2017.|
|Series:||IMF Working Papers.
|Online Access:||Click to view ebook |
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