المستودع الأكاديمي جامعة المدينة

Variable Retirement and the Effects of Social Insurance on Savings, Wealth, and Welfare

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dc.creator Turnovsky, Stephen J.
dc.creator Bruce, Neil
dc.date 2007
dc.date.accessioned 2013-10-16T06:57:28Z
dc.date.available 2013-10-16T06:57:28Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/17928
dc.identifier ppn:557920515
dc.identifier RePEc:zbw:ifwedp:5519
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/17928
dc.description 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 examine the impact of pay-as-you-go social insurance policies (public pensions and medicare coverage) on individual and aggregate consumption, saving, and wealth levels as well as wealth distribution. We also derive expressions for optimal (Pareto improving) social insurance policies.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Economics Discussion Papers / Institut für Weltwirtschaft 2007-5
dc.rights http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
dc.subject D91
dc.subject J20
dc.subject E10
dc.subject ddc:330
dc.title Variable Retirement and the Effects of Social Insurance on Savings, Wealth, and Welfare
dc.type doc-type:workingPaper


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