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We construct a Blanchard-style overlapping generations model consisting of long-lived individuals who have uninsurable idiosyncratic risk resulting from uncertain retirement periods and medical costs in retirement. Without social insurance, such individuals must save for these eventualities. We...
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evaluate the consequences of policy reform. This paper surveys the savings mechanisms generated by the transmission of bequests … medical-expense risk are crucial determinants of savings and wealth inequality and that we need to look at more data to …
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