Time Consistency and Intergenerational Risk Sharing

It is shown how intergenerational risk sharing can be achieved by transfers from the young generation to the old generation such that the young generation will never have an incentive to unilaterally renege on the transfer. This contradicts a claim made in Gordon and Varian (1988).

MoreLess

Year of publication:	2000-02
Authors:	Worrall, Tim
Institutions:	Centre for Economic Research, School of Economics and Management Studies
Subject:	Intergenerational risk-sharing \| Social compact \| Time consistency \| Self-enforcing

More details

Extent:	application/pdf
Series:	Keele Department of Economics Discussion Papers (1995-2001). - ISSN 1352-8955.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Keele University, Department of Economics Discussion Papers Number 2000/17 12 pages
Classification:	D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving ; H55 - Social Security and Public Pensions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005181741