Atsue Mizushima () (Graduate School of Economics, Osaka University) Keiichi Koda () (International Graduate School of Social Science Graduate School of Economics, Yokohama National University)
Additional information is available for the following
registered author(s):
We consider a two-period overlapping generations model where agents face the uncertainty of intergenerational transfers from their children. To avoid this kind of risk, agents have an incentive to share the risk within the same generation. However, there exists an information asymmetry about the realization of the old periodfs income between the insurance company and old agents. By analyzing economies with and without risk sharing, we find that risk sharing decreases the rate of economic growth and accelerates social welfare when the rate of social time preference is sufficiently large.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
file. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number
07-02.
References listed on IDEAS 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.:
Berthold U. Wigger, 1999.
"Gifts, Bequests and Growth,"
CSEF Working Papers
31, Centre for Studies in Economics and Finance (CSEF), University of Salerno, Italy.
[Downloadable!]
Other versions: