The purpose of this study is to explore the effects of exogenous social security system parameters on welfare. The set … social security parameters, first under inelastic and then under elastic labor supply, on individuals welfare. He finds that … when labor supply is inelastic, the parameters affect differently the welfare of the high and the low-skilled, since for …

welfare, both for a small open economy and for a closed economy.The economy consists of a service sector and a commodity …-run growth and thus welfare in a small open economy, whereas current generations are better off.However, reducing social security …

We investigate welfare and aggregate implications of a pay as you go (PAYG) social security system in a dynastic … temptation. We find that the adverse welfare effects of a PAYG system are further mitigated relative to the environments that …

We investigate welfare and aggregate implications of a pay-as-you-go (PAYG) social security system in a dynastic … but magnifies the self-control costs. We find that in our environment the adverse welfare effects of a PAYG system are …

time to time. This paper examines the economic welfare effects of means testing using a stochastic overlapping generations … endowments of effective labor. Our results indicate that a change in the taper rate has implications for both welfare and … economic aggregates. In particular, with a second tier pension in place, it is welfare improving to strictly means-test the …

sustainability of pay-as-you-go to finance the welfare system in developed countries. Thsi paper constitutes Chapert 2.. Chapter 1 …

welfare weights are exponential, while for ß<1/2 they are biased in favor of the current self, and for ß>1/2 in favor of one …'s future selves. More generally, we establish a functional equation which relates welfare weights to instantaneous …