In this thesis, we consider three non-trivial problems of risk allocation and apply approaches
from theoretical finance and risk management to address several policy debates from a …

This chapter reviews the literature on intergenerational risk sharing (IRS). We explore to
what extent and how a market economy with an appropriate institutional setting can replicate …

We examine the link between the political participation of the young and fiscal policies in the
United States. We generate exogenous variation in participation using the passage of …

Based on narrative identification, we construct a novel comprehensive dataset of pension
reform measures in OECD countries from 1970 to 2017. We then study the timing of these …

Using a new real-time dataset from Beetsma et al.(2020) containing all pension reform
measures in 23 OECD countries between 1970 and 2017, we demonstrate that, in contrast …

In the summer of 2020 the Dutch government and social partners have agreed on a pension
reform involving the transformation of occupational pensions from the current defined-benefit …

Intergenerational risk sharing by funded pension schemes may increase welfare in an ex
ante sense. However, it also suffers from a time inconsistency problem. In particular, young …

Pensions may be provided for in a modern society by a mix of several methods, namely by
voluntary individual savings, mandatory fully-funded occupational pension systems …

Over the last decades, we have generally seen a gradual shift from pay-as-you-go (PAYG) to
funding to finance pensions. In this paper, we develop an analytical framework that includes …

Using a narrative approach we construct a unique dataset of pension reform measures for a
broad sample of OECD countries over the period since 1970 and explore the determinants …