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Title:Assessing social security: Some useful results PDF Logo
Authors:Borgmann, Christoph
Issue Date:2001
Series/Report no.:Diskussionsbeiträge, Institut für Finanzwissenschaft der Albert-Ludwigs-Universität Freiburg im Breisgau 97
Abstract:This paper presents a dense summary of the most fundamental results on the issue of PAYG Social Security. They are presented in a simple and insightful analytical framework by working from the budget constraint of the household. The results presented in detail are a representation of the Aaron-Theorem, the equivalence of debt and Social Security, and a proof that under certain conditions the burden of Social Security on the current young and all future generations equals the benefit payments to the current old. Finally, I include uncertainty in the analysis and touch on the intergenerational risk-sharing implications of Social Security.
Document Type:Working Paper
Appears in Collections:Diskussionsbeiträge, Inst. f. Finanzwissenschaft, Universität Freiburg

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