Bovenberg, Lans; Uhlig, Harald - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2006
: social optimum, pension systems, risk sharing, overlapping
generations.
JEL codes: E21, E61, E62, O40, H21, H55
1 … endogenous growth. Section 5 explores how the social optimum can
be decentralized through a pension system. Section 6 provides … various genera-
tions with (ωt)∞t=0 as a sequence of (nonstochastic) welfare weights.
10
Definition 4 (SP) A social optimum …