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On sustainable pay as you go systems
Demange, Gabrielle - HAL - 2005
An unfunded Social Security system faces the major risk, sometimes referred to as "political risk", that future … generations modify or even suppress the contributions. In order to account properly for this risk, the paper considers a political … the economy. The impact of various factors -intra-generational redistribution, risk aversion, financial markets …
Persistent link: https://www.econbiz.de/10010739137
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On Sustainable Pay-As-You-Go Systems
Demange, Gabrielle - C.E.P.R. Discussion Papers - 2005
An unfunded Social Security system faces a major risk, sometimes referred to as ‘political risk’. In order to account … properly for this risk, the paper considers a political process in which the support to the system is asked from each newborn …-generational redistribution, risk aversion, financial markets, governmental debt- on the political sustainability of a pay-as-you-go system is …
Persistent link: https://www.econbiz.de/10005666926
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Pensions and fertility: in search of a link
Gahvari, Firouz - In: International Tax and Public Finance 16 (2009) 4, pp. 418-442
In overlapping generations models with endogenous fertility wherein the retired partake of consumption but do not contribute to production (through their labor), fertility has a positive and a negative externality. These can be internalized through a child allowance (or tax) or a linkage between...
Persistent link: https://www.econbiz.de/10010865740
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INTERGENERATIONAL EQUITY AND THE DISCOUNT RATE FOR POLICY ANALYSIS
Mertens, Jean-Francois; Rubinchik, Anna - Department of Economics, University of Haifa
For two independent principles of intergenerational equity, the implied discount rate equals the growth rate of real per capita income, say, 2%, thus falling right into the range suggested by the U.S. Office of Management and Budget. To prove this, we develop a simple tool to evaluate small...
Persistent link: https://www.econbiz.de/10009294162
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Trading off generations: infinitely lived agent versus OLG
Schneider, Maik T.; Traeger, Christian P.; Winkler, Ralph - Department of Agricultural and Resource Economics, … - 2007
The prevailing literature discusses intergenerational trade-offs in climatechange predominantly in terms of the Ramsey equation relying on the infinitelylived agent model. We discuss these trade-offs in a continuous time OLG framework and relate our results to the infinitely lived agent setting....
Persistent link: https://www.econbiz.de/10009646060
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Trading off generations: Equity, discounting, and climate change
Schneider, Maik T.; Traeger, Christian P.; Winkler, Ralph - In: European Economic Review 56 (2012) 8, pp. 1621-1644
The prevailing literature discusses intergenerational trade-offs in climate change predominantly in terms of the Ramsey equation relying on the infinitely lived agent model. We discuss these trade-offs in a continuous time OLG framework and relate our results to the infinitely lived agent...
Persistent link: https://www.econbiz.de/10010588192
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Trading Off Generations: Infinitely Lived Agent Versus OLG
Schneider, Maik T.; Traeger, Christian P.; Winkler, Ralph - Department of Agricultural and Resource Economics, … - 2012
The prevailing literature discusses intergenerational trade-offs in climatechange predominantly in terms of the Ramsey equation relying on the infinitelylived agent model. We discuss these trade-offs in a continuous time OLG framework and relate our results to the infinitely lived agent setting....
Persistent link: https://www.econbiz.de/10010676647
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Intergenerational equity and the discount rate for cost-benefit analysis
Mertens, Jean-François; Rubinchik, Anna - Center for Operations Research and Econometrics (CORE), … - 2008
For two independent principles of intergenerational equity, the implied discount rate equals the growth rate of real per-capita income, say 2%, thus falling right into the range suggested by the U.S. Offce of Management and Budget. To prove this, we develop a simple tool to evaluate small policy...
Persistent link: https://www.econbiz.de/10005008455
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Social time preference revisited
Willenbockel, Dirk - In: Journal of Population Economics 21 (2008) 3, pp. 609-622
Persistent link: https://www.econbiz.de/10005395997
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Intergenerational equity and the discount rate for cost-benefit analysis
Jean-François, MERTENS; Anna, RUBINCHIK - Institut de Recherche Économique et Sociale (IRES), … - 2008
For two independent principles of intergenerational equity, the implied discount rate equals the growth rate of real per-capital income, say 2%, thus falling right into the range suggested by the U.S. Office of Management and Budget. To prove this, we develop a simple tool to evaluate small...
Persistent link: https://www.econbiz.de/10004984882