Heijdra, Ben; Reijnders, Laurie - In: De Economist 160 (2012) 3, pp. 311-337
We study the effects on the macroeconomic equilibrium, the wealth distribution, and welfare of adverse selection in … mandatory contributions that are constant across health types. These social annuities are immune to adverse selection and … return on capital in equilibrium is outweighed by the negative consequences of increased adverse selection in the private …