Intergenerational risk sharing and social security in an economy with land
Homburg (1990 and 1992) shows that the existence of productive land prevents an economy from being dynamically inefficient. The result is extended to a world with uncertain labour income. It is shown that PAYG social security fails to be Pareto improving on almost all paths of economic growth. Copyright Springer-Verlag 1993
(This abstract was borrowed from another version of this item.)
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.:
- Smith, Alasdair, 1982. "Intergenerational transfers as social insurance," Journal of Public Economics, Elsevier, vol. 19(1), pages 97-106, October.
- Bruce C. Greenwald & Joseph E. Stiglitz, 1986. "Externalities in Economies with Imperfect Information and Incomplete Markets," The Quarterly Journal of Economics, Oxford University Press, vol. 101(2), pages 229-264.
- Robert C. Merton, 1983. "On the Role of Social Security as a Means for Efficient Risk Sharing in an Economy Where Human Capital Is Not Tradable," NBER Chapters, in: Financial Aspects of the United States Pension System, pages 325-358 National Bureau of Economic Research, Inc.
- Stefan Homburg, 1991. "Interest and Growth in an Economy with Land," Canadian Journal of Economics, Canadian Economics Association, vol. 24(2), pages 450-59, May.
- Walter Enders & Harvey Lapan, 1993.
"A model of first and second-best social security programs,"
Journal of Economics,
Springer, vol. 7(1), pages 65-90, December.
- Walter Enders & Harvey Lapan, 1993. "A model of first and second-best social security programs," Journal of Economics, Springer, vol. 58(1), pages 65-90, December.
- Enders, Walter & Lapan, Harvey E., 1993. "A Model of First and Second-Best Social Security Programs," Staff General Research Papers 10805, Iowa State University, Department of Economics.
- Roger H. Gordon & Hal R. Varian, 1985.
"Intergenerational Risk Sharing,"
NBER Working Papers
1730, National Bureau of Economic Research, Inc.
- Homburg, Stefan, 1992. "Efficient Economic Growth," EconStor Books, ZBW - German National Library of Economics, number 92903, July.
- Andrew Abel & Gregory N. Mankiw & Lawrence H. Summers & Richard Zeckhauser, .
"Assessing Dynamic Efficiency: Theory and Evidence,"
Rodney L. White Center for Financial Research Working Papers
14-88, Wharton School Rodney L. White Center for Financial Research.
- Enders, Walter & Lapan, Harvey E, 1982.
"Social Security Taxation and Intergenerational Risk Sharing,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 23(3), pages 647-58, October.
- Enders, Walter & Lapan, Harvey E., 1982. "Social Security Taxation and Inter-Generational Risk Sharing," Staff General Research Papers 10822, Iowa State University, Department of Economics.
- Changyong Rhee, 1991. "Dynamic Inefficiency in an Economy with Land," Review of Economic Studies, Oxford University Press, vol. 58(4), pages 791-797.
When requesting a correction, please mention this item's handle: RePEc:kap:jeczfn:v:7:y:1993:i:1:p:91-103. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If references are entirely missing, you can add them using this form.