Bruce, Neil (contributor); Turnovsky, Stephen J. (contributor) - 2007
individuals must save for these eventualities. We examine the impact of pay-as-you-go social insurance policies (public pensions … eventualities. We
examine the impact of pay-as-you-go social insurance policies (public pensions and medicare
coverage) on … to retirees
financed by payroll taxes on working generations, a financing scheme commonly called pay-as-you-
go (PAYG …