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dc.contributor.authorTurnovsky, Stephen J.en_US
dc.contributor.authorBruce, Neilen_US
dc.date.accessioned2009-01-28T15:05:00Z-
dc.date.available2009-01-28T15:05:00Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/17928-
dc.description.abstractWe construct a Blanchard-style overlapping generations model consisting of long-lived individuals who have uninsurable idiosyncratic risk resulting from uncertain retirement periods and medical costs in retirement. Without social insurance, such individuals must save for these eventualities. We examine the impact of pay-as-you-go social insurance policies (public pensions and medicare coverage) on individual and aggregate consumption, saving, and wealth levels as well as wealth distribution. We also derive expressions for optimal (Pareto improving) social insurance policies.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kiel-
dc.relation.ispartofseriesEconomics Discussion Papers / Institut für Weltwirtschaft 2007-5en_US
dc.subject.jelD91en_US
dc.subject.jelJ20en_US
dc.subject.jelE10en_US
dc.subject.ddc330en_US
dc.titleVariable Retirement and the Effects of Social Insurance on Savings, Wealth, and Welfareen_US
dc.typeWorking Paperen_US
dc.identifier.ppn557920515en_US
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.en-
dc.identifier.repecRePEc:zbw:ifwedp:5519-
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers

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