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Intergenerational Risk-Sharing Through Funded Pensions and Public Debt
Chen, Damiaan - 2014
We explore the benefits of intergenerational risk-sharing through both private funded pensions and via the public debt. We use a multi-period overlapping generations model with a PAYG pension pillar, a funded pension pillar and a government. Shocks are smoothed via the public debt and variations...
Persistent link: https://www.econbiz.de/10013058155
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Coordinating Intergenerational Redistribution and the Repayment of Public Debt
March, Christoph - 2016
Is there a link between public debt and wealth inequality? Could government bondholders use intra-generational redistribution strategically to make the repayment of debt politically viable? Using a two-generations game-theoretic model, we identify coordination and divide-and-conquer as key...
Persistent link: https://www.econbiz.de/10012980578
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Combining Rights and Welfarism : A New Approach to Intertemporal Evaluation of Social Alternatives
Van Long, Ngo - 2013
We propose a new criterion which reflects both the concern for welfare (utility) and the concern for rights in the evaluation of economic development paths. The concern for rights is captured by a pre-ordering over combinations of thresholds (floors or ceilings on various quantitative...
Persistent link: https://www.econbiz.de/10013091469
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Inter- and Intra-generational Consequences of Pension Buffer Policy under Demographic, Financial and Economic Shocks
Bucciol, Alessandro - 2009
are generally non-negligible. They also differ rather widely for the various cohort/income groups. Our stochastic …
Persistent link: https://www.econbiz.de/10013156226
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Self-Enforcing Intergenerational Social Contract as a Source of Pareto Improvement and Pollution Mitigation
Dao, Thang Nguyen - 2016
income in pollution mitigation in exchange for a transfer to their old-age capital income paid by the next generation. We … minimum level of income and we characterize the set of Pareto-improving mitigation-transfer combinations. Nash bargaining … yields unique solutions for the mitigation share and transfer rate respectively which increase in income. We prove that Nash …
Persistent link: https://www.econbiz.de/10012989035
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The Intergenerational Welfare State
Andersen, Torben M. - 2013
The welfare state is not merely a stand-in for missing markets; it can do a whole lot more. When generations overlap and the young must borrow to make educational investments, a dynamically-efficient welfare state, by taxing the middle-aged and offering a compensatory old-age pension, can...
Persistent link: https://www.econbiz.de/10013077021
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Transfers within a Three Generations Family : When the Rotten Kids Turn into Altruistic Parents
Cremer, Helmuth; Roeder, Kerstin - 2021
We study exchanges between three overlapping generations with non-dynastic altruism. The middleaged choose informal care provided to their parents and education expenditures for their children. The young enjoy their education, while the old may leave a bequest to their children. Within each...
Persistent link: https://www.econbiz.de/10013315590
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Economic Analysis, Sustainability and Environmental Commons
Musu, Ignazio - 2021
When confronted with market weaknesses and failures determining sustainability problems for environmental common-pool resources, economic analysis has proposed government intervention as the only alternative available. Elinor Ostrom showed that this dichotomy between market and government is not...
Persistent link: https://www.econbiz.de/10013315644
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The Trade-Off between Intra- and Intergenerational Equity in Climate Policy
Kverndokk, Snorre; Naevdal, Eric; Nøstbakken, Linda - 2021
This paper focuses on two equity dimensions of climate policy, intra- and intergenerational equity, and analyzes the implications of equity preferences on climate policy, and on the production and consumption patterns in rich and poor countries. We develop a dynamic two-region model, in which...
Persistent link: https://www.econbiz.de/10013315754
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Provision of a Public Good with Altruistic Overlapping Generations and Many Tribes
Karp, Larry S. - 2021
Intergenerational altruism and contemporaneous cooperation are both important to the provision of long-lived public goods. Equilibrium climate protection may depend more sensitively on either of these considerations, depending on the type of policy rule one examines. This conclusion is based on...
Persistent link: https://www.econbiz.de/10013315881