"Generational accounts" measure the fiscal sustainability of the public sector. We ask whether contributions from the Government Pension Fund and remaining oil and gas wealth in the ground, together with the pension reform taking effect in 2011, are sufficiently large to secure generational...

The authors investigate the intergenerational welfare implications of generational accounting when it is used as the basis for intertemporal fiscal policy decisions. In particular, they consider an economy with a PAYGO social security system out of steady state due to a permanent fall in...

The welfare state provides universal insurance for workers against accidents in the workplace. In equilibrium, this insurance does not generate adverse safety incentives to firms. Noninternalized insurance makes workers sort themselves nonoptimally to firms and choose higher individual effort...

This paper discusses individual agents' incentives to take precautions to prevent accidents when the prevention technology facing the agents is changed due to regulation. It is shown that private prevention activities vary greatly with different attitudes towards risk. This is a great potential...