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Social Security as Markov Equilibrium in OLG Models: A Note

  • Martín Gonzalez Eiras


    (Department of Economics, Universidad de San Andres & CONICET)

I refine and extend the Markov perfect equilibrium of the social security policy game in Forni (2005) for the special case of logarithmic utility. Under the restriction that the policy function be continuous, instead of differentiable, the equilibrium is globally well defined and its dynamics always stable.

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Paper provided by Universidad de San Andres, Departamento de Economia in its series Working Papers with number 105.

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Length: 6 pages
Date of creation: Sep 2010
Date of revision: Sep 2010
Handle: RePEc:sad:wpaper:105
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  1. Gonzalez-Eiras, Marti­n & Niepelt, Dirk, 2008. "The future of social security," Journal of Monetary Economics, Elsevier, vol. 55(2), pages 197-218, March.
  2. Mateos-Planas, Xavier, 2008. "A quantitative theory of social security without commitment," Journal of Public Economics, Elsevier, vol. 92(3-4), pages 652-671, April.
  3. Zheng Song & Kaiji Chen, 2009. "Markovian Social Security in Unequal Societies," 2009 Meeting Papers 318, Society for Economic Dynamics.
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