experience welfare gains as the positive insurance effects attributed to the extension of a social insurance system dominate. The … welfare gains crucially depend on the skill distribution, private intra-family transfers and the specific tax used to finance …

coverage of the social security system results in welfare gains for low income households. This result indicates that the …

lacking private sector risk-sharing mechanisms results in welfare increases and relatively minor efficiency losses. Our results … suggest that welfare gains attributed to the insurance and redistribution function of the social assistance program dominate … welfare losses from distortionary effects of pension payments …

providing income security in old age, including social pensions. It also examines the welfare effects of adopting alternative …

providing income security in old age, including social pensions. It also examines the welfare effects of adopting alternative …

providing income security in old age, including social pensions. It also examines the welfare effects of adopting alternative …

This paper investigates empirically the fiscal and welfare trade-offs involved in designing a pension system when …