Idiosyncratic risk, aggregate risk, and the welfare effects of social security
"We ask whether a pay-as-you-go financed social security system is welfare improving in an economy with idiosyncratic productivity and aggregate business cycle risk. We show analytically that the whole welfare benefit from joint insurance against both risks is greater than the sum of benefits f...
| Main Authors: | , |
|---|---|
| Institution: | ETUI-European Trade Union Institute |
| Format: | TEXT |
| Language: | English |
| Published: |
Mannheim
2018
ZEW |
| Subjects: | |
| Online Access: | https://www.labourline.org/KENTIKA-19390347124911185299-idiosyncratic-risk,-aggregate-.htm |
