Gottardi, Piero; Kubler, Felix - CESifo - 2006
In this paper we identify conditions under which the introduction of a pay-as-you-go social security system is ex …’ welfare is evaluated ex ante, and arises from the possibility of inducing, through social security, an improved level of … intergenerational risk sharing. We will also examine the optimal size of a given social security system as well as its optimal reform …