Intergenerational risk sharing
dc.contributor.author | Gordon, Roger H. | en_US |
dc.contributor.author | Varian, Hal R. | en_US |
dc.date.accessioned | 2006-04-07T20:09:09Z | |
dc.date.available | 2006-04-07T20:09:09Z | |
dc.date.issued | 1988-11 | en_US |
dc.identifier.citation | Gordon, Roger H., Varian, Hal R. (1988/11)."Intergenerational risk sharing." Journal of Public Economics 37(2): 185-202. <http://hdl.handle.net/2027.42/27078> | en_US |
dc.identifier.uri | http://www.sciencedirect.com/science/article/B6V76-45DN0JX-88/2/4bce29fc838512cde0344c2a45a80351 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/27078 | |
dc.description.abstract | In this paper we examine government debt and tax-transfer policies that can be improve the allocation of risk between generations. Markets cannot allocate risk efficiently between two generations whenever the two generations are not both alive prior to the occurence of a stochastic event. This implies that government policies transferring risk between generations have the potential to create first-order welfare improvements. Our model provides a non- Keynesian justification for the debt-finance of wars and recessions, as well as an added rationale for Social Security type tax-transfer schemes which aid unlucky generations, e.g. the Depression generation, at the expense of luckier generations. | en_US |
dc.format.extent | 1275200 bytes | |
dc.format.extent | 3118 bytes | |
dc.format.mimetype | application/pdf | |
dc.format.mimetype | text/plain | |
dc.language.iso | en_US | |
dc.publisher | Elsevier | en_US |
dc.title | Intergenerational risk sharing | en_US |
dc.type | Article | en_US |
dc.rights.robots | IndexNoFollow | en_US |
dc.subject.hlbsecondlevel | Government Information | en_US |
dc.subject.hlbtoplevel | Government, Politics and Law | en_US |
dc.description.peerreviewed | Peer Reviewed | en_US |
dc.contributor.affiliationum | University of Michigan, Ann Arbor, MI 48109, USA | en_US |
dc.contributor.affiliationum | National Bureau of Economic Research University of Michigan, Ann Arbor, MI 48109, USA | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/27078/1/0000069.pdf | en_US |
dc.identifier.doi | http://dx.doi.org/10.1016/0047-2727(88)90070-9 | en_US |
dc.identifier.source | Journal of Public Economics | en_US |
dc.owningcollname | Interdisciplinary and Peer-Reviewed |
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