Arawatari, Ryo; Ono, Tetsuo - Graduate School of Economics, Osaka University - 2008
intergenerational resource reallocation via social security. Based on the concept of a stationary Markov perfect equilibrium, the paper … focuses on the feedback mechanism between current individualsf decisions on saving and future voting on social security. The … paper demonstrates the determination of social security via probabilistic voting and its consequence for consumption …