On-device research index

arXiv research

A locally-built, LLM-digested index of recent arXiv papers in quant finance, geometry/topology, and statistical ML — keyword search served straight from SQLite on this machine.

168,742 papers · 148 categories

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5 results for “Pay-As-You-Go”

Optimal investment and Pension policy in Pay-As-You-Go systems under forward utility and ageing populationq-fin.MF

Investigates optimal pension policies in PAYG systems with forward utility and ageing population.

problem Optimal investment and pension policies in PAYG systems with sustainability and adequacy constraints.

method Non-zero volatility forward CRRA utilities, closed-form optimal policies, detailed numerical analysis.

result Characterization of optimal policies and detailed impact analysis under various scenarios.

Pension policy Pay-As-You-Go Forward utility Ageing population Sustainability

2026-05-12abs ↗pdf ↗

A Stochastic Model for the Analysis of Demographic Risk in Pay-As-You-Go Pension Fundsq-fin.RM

This research presents an analysis of the demographic risk related to future membership patterns in pension funds with restricted entrance, financed under a pay-as-you-go scheme. The paper, therefore, proposes a stochastic model for investigating the behaviour of the demographic variable "new entrants" and the influenc…

2011-06-24abs ↗pdf ↗

Time-consistent pension policy with minimum guarantee and sustainability constraintq-fin.MF

The paper optimizes pension policies with guarantees and sustainability constraints.

problem Designing optimal pension policies with guarantees and sustainability constraints.

method Dynamic utility model, stochastic domain, overlapping generations, time-consistent decision criterion.

result Optimal investment/pension policy computed for a general framework.

pension policy dynamic utility sustainability pay-as-you-go buffer fund

2022-07-04abs ↗pdf ↗

Transforming public pensions: A mixed scheme with a credit granted by the stateq-fin.RM

Proposes a mixed pension system combining PAYG and funded contributions to address sustainability.

problem Sustainability of public pension systems due to declining birth rates and increasing life expectancy.

method Combines a classical PAYG scheme with a funded investment scheme to ensure financial sustainability.

result Individuals contribute to a funded part, making them active participants in addressing demographic risks.

pension systems PAYG funding sustainability demographic risks

2019-12-27abs ↗pdf ↗

Optimal Mix Among PAYGO, EET and Individual Savingsq-fin.MF

Optimizes pension mix of PAYGO, EET, and individual savings.

problem Balancing PAYGO, EET, and individual savings in funded pension schemes.

method Solves a Nash equilibrium between pension participants and government, considering age-dependent preferences and optimal asset allocation.

result Identifies critical ages and optimal contribution rates for maximizing overall utility.

Pension Reform Nash Equilibrium Age-Dependent Preferences Optimal Mix Utility Maximization

2023-02-18abs ↗pdf ↗