Hassler, John; Lindbeck, Assar - Institutet för Näringslivsforskning (IFN) - 1998
This paper considers the possibility of letting a pay-go pension system mimic a fully funded pension system. Generically, it turns out to be impossible to make a less than fully funded pension system actuarially fair on average. But a non-funded pay-go pension system can provide an actuarially...