| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5062049 | Economics Letters | 2008 | 4 Pages |
Abstract
The present paper clarifies the intergenerational welfare effects of life annuities. While present young cohorts experience significant welfare gains, future generations are hurt by lower bequest. For sufficiently high interest rates long-run welfare will decrease although aggregate efficiency rises.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Hans Fehr, Christian Habermann,