This paper presents a two-period overlapping-generations model in which (i) firms create environmentally harmful emissions as by-products of production, and (ii) social security tax revenue from the working young is transferred to the retired elderly as pay-as-you go social security benefits. In...

The costs of population ageing are primarily reflected in larger expenditures on pensions and health care. This paper explores the consequences of ageing for the Netherlands in a baseline scenario simulated with a dynamic general equilibrium model. We discuss the sensitivity of the results under...

The partial privatization of the US Social Security system was clearly the top economic policy priority for the new Bush administration. While many famous economists, publicists and politicians support, others reject the partial privatization of the Social Security system. The international...

This paper examines implications of the 2002 population projections for future trends in pension and healthcare costs in Japan. Current redistributive pension and healthcare programmes have resulted in considerably higher per capita income for the aged than the non-aged population. Substantive...

Institutional and Financial Incentives for Social Insurance provides both an empirical and a theoretical account of the main difficulties presently threatening social insurance systems in most industrialized countries. It analyzes the remedies that have been discussed and sometimes introduced...