Intergenerational risk sharing and social security in an economy with land
Homburg (1990 and 1992) shows that the existence of productive land prevents an economy from being dynamically inefficient. The result is extended to a world with uncertain labour income. It is shown that PAYG social security fails to be Pareto improving on almost all paths of economic growth. Copyright Springer-Verlag 1993
Year of publication: |
1993
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Authors: | Richter, Wolfram |
Published in: |
Journal of Economics. - Springer. - Vol. 58.1993, 1, p. 91-103
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Publisher: |
Springer |
Saved in:
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