Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/205649
Authors: 
Evans, Lewis
Quigley, Neil
Year of Publication: 
2013
Series/Report no.: 
New Zealand Treasury Working Paper No. 13/25
Publisher: 
New Zealand Government, The Treasury, Wellington
Abstract: 
In this paper we explore the question of the sustainability of the intergenerational contract that is represented by the current structure of social welfare. We argue that sustainability and time consistency of social welfare policies could be improved by more explicit recognition of the social welfare system as a relational contract that should be reinterpreted in the light of changes in technology, changes in our understanding of the incentive effects of different approaches to social welfare provision, and changes in society as a whole. We suggest that too much of our social welfare policy is based on approaches developed under the social and economic conditions and technology of the past, and that this is a key source of the potential challenge to the sustainability of current policies.
Subjects: 
intergeneration
time consistency
relational contract
insurance
social welfare
JEL: 
I38
H23
H55
ISBN: 
978-0-478-40386-2
Creative Commons License: 
https://creativecommons.org/licenses/by/4.0/
Document Type: 
Working Paper

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