کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
956973 928502 2011 29 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Social security and risk sharing
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Social security and risk sharing
چکیده انگلیسی
In this paper we identify conditions under which the introduction of a pay-as-you-go social security system is ex ante Pareto-improving in a stochastic OLG economy with capital accumulation and land. We argue that these conditions are consistent with realistic specifications of the parameters of the economy. In our model financial markets are complete and competitive equilibria interim Pareto efficient. Therefore, a welfare improvement can only be obtained if agentsʼ welfare is evaluated ex ante, and arises from an improvement in intergenerational risk sharing. We also examine the optimal size of a given social security system as well as its optimal reform.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 146, Issue 3, May 2011, Pages 1078-1106
نویسندگان
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