A Model for Determining Consumption and Social Assistance Demand in Uncertainty Conditions
AbstractThis article focuses on the relation between demographic impact and social insurance and consists of two distinct yet closely related sections. The first section introduces a three overlapping generation model which tries to determine the ageing effects on the individual consumption and saving decisions in a partial equilibrium approach. The second section, instead, aims at providing a theory on the need to set up an ad hoc non self-sufficiency fund. It is shown that this mandatory and universal social insurance can guarantee a relatively higher ex-post individual welfare level when the individual fails to get insured and makes his decisions in uncertainty conditions, that is, reacting to risks in an imperfect way through the setting up of a precautionary saving fund.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by SIPI Spa in its journal Rivista di Politica Economica.
Volume (Year): 95 (2005)
Issue (Month): 6 (November-December)
Contact details of provider:
Find related papers by JEL classification:
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
- J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Pierre-Olivier Gourinchas & Jonathan A. Parker, 1999.
"Consumption Over the Life Cycle,"
NBER Working Papers
7271, National Bureau of Economic Research, Inc.
- Levhari, David & Mirman, Leonard J, 1977. "Savings and Consumption with an Uncertain Horizon," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 85(2), pages 265-81, April.
- Attanasio, Orazio P, et al, 1999.
"Humps and Bumps in Lifetime Consumption,"
Journal of Business & Economic Statistics, American Statistical Association,
American Statistical Association, vol. 17(1), pages 22-35, January.
- Orazio P. Attanasio & James Banks & Costas Meghir & Guglielmo Weber, 1995. "Humps and Bumps in Lifetime Consumption," NBER Working Papers 5350, National Bureau of Economic Research, Inc.
- Orazio Attanasio & James Banks & Costas Meghir & Guglielmo Weber, 1995. "Humps and bumps in lifetime consumption," IFS Working Papers, Institute for Fiscal Studies W95/14, Institute for Fiscal Studies.
- Monacelli Daniela, 1998. "Per una riforma dello stato sociale: le politiche di assistenza," Politica economica, Società editrice il Mulino, issue 1, pages 97-154.
- Cagetti, Marco, 2003. "Wealth Accumulation over the Life Cycle and Precautionary Savings," Journal of Business & Economic Statistics, American Statistical Association, American Statistical Association, vol. 21(3), pages 339-53, July.
- Davies, James B, 1981. "Uncertain Lifetime, Consumption, and Dissaving in Retirement," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 89(3), pages 561-77, June.
- Leibenstein, Harvey, 1974. "An Interpretation of the Economic Theory of Fertility: Promising Path or Blind Alley?," Journal of Economic Literature, American Economic Association, vol. 12(2), pages 457-79, June.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sabrina Marino).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.