Title of article :
Quantifyingtherisk-sharingwelfaregainsofsocialsecurity
Author/Authors :
Conny Olovsson، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2010
Abstract :
The welfareeffectsofintergenerationalrisksharingthroughapay-as-you-gosocial
securitysystemthatisefficientlyindexedtowagesorinterestratesarequantified.
Comparingsteadystates,therearelargewelfaregainsofbeingbornintoaneconomy
with efficientrisksharingascomparedtothecurrentU.S.system.Efficientpolicy
involvesanincreasinglyriskynetoftaxincomeoverthelifecycle.Whenadjustmentto
steadystateistakenintoaccount,thewelfaregainslargelyturnnegative.Theresults
arealsocomparedandcontrastedtothefirstbestallocation
Keywords :
Social securityIntergenerational risksharing
Journal title :
Journal of Monetary Economics
Journal title :
Journal of Monetary Economics
