A Model for Determining Consumption and Social Assistance Demand in Uncertainty Conditions
This 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.
Volume (Year): 95 (2005)
Issue (Month): 6 (November-December)
|Contact details of provider:|| |
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.:
- 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.
- Attanasio, Orazio P, et al, 1999.
"Humps and Bumps in Lifetime Consumption,"
Journal of Business & Economic Statistics,
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 W95/14, Institute for Fiscal Studies.
- Gourinchas, P.O. & Parker, J.A., 1997.
"Consumption Over the Life Cycle,"
9722, Wisconsin Madison - Social Systems.
- Pierre-Olivier Gourinchas & Jonathan A. Parker, 1999. "Consumption Over the Life Cycle," NBER Working Papers 7271, National Bureau of Economic Research, Inc.
- Gourinchas, Pierre-Olivier & Parker, Jonathan A, 2000. "Consumption Over the Life-Cycle," CEPR Discussion Papers 2345, C.E.P.R. Discussion Papers.
- Monacelli Daniela, 1998. "Per una riforma dello stato sociale: le politiche di assistenza," Politica economica, Società editrice il Mulino, issue 1, pages 97-154.
- Davies, James B, 1981. "Uncertain Lifetime, Consumption, and Dissaving in Retirement," Journal of Political Economy, University of Chicago Press, vol. 89(3), pages 561-77, June.
- Kennickell, Arthur & Lusardi, Annamaria, 2005. "Disentangling the importance of the precautionary saving motive," CFS Working Paper Series 2006/15, Center for Financial Studies (CFS).
- Levhari, David & Mirman, Leonard J, 1977. "Savings and Consumption with an Uncertain Horizon," Journal of Political Economy, University of Chicago Press, vol. 85(2), pages 265-81, April.
- Cagetti, Marco, 2003. "Wealth Accumulation over the Life Cycle and Precautionary Savings," Journal of Business & Economic Statistics, American Statistical Association, vol. 21(3), pages 339-53, July.
When requesting a correction, please mention this item's handle: RePEc:rpo:ripoec:v:95:y:2005:i:6:p:167-198. 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: (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.