Fuster, Luisa; Imrohoroglu, Ayse; Imrohoroglu, Selahattin - In: International Economic Review 44 (2003) 4, pp. 1247-1274
In this article, we study the welfare effects of unfunded social security in a general equilibrium model populated with overlapping generations of altruistic individuals that differ in lifetime expectancy and earnings ability. Contrary to previous research, our results indicate that steady-state...