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Welfare States do not insure citizens against the risk of premature death, i.e., the risk of having a short life. Using a dynamic OLG model with risky lifetime, this paper compares two insurance devices reducing well-being volatility due to the risk of early death: (i) an ante-mortem age-based...
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This paper examines long-term trends in aggregate wealth and inheritance and in their distributions, focusing on …
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. We disentangle, roughly, the contribution of inheritance, age and stochastic rates of capital return to wealth inequality …
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