The article discusses the question whether or not family allowances have a strictly economic rationale.

The article discusses the question whether or not family allowances have a strictly economic rationale.

Monetary policy is superneutral in an overlapping generations model. Previous authors have argued that superneutrality does not hold in such a setting. However, the standard results rely on the counter-factual premise of helicopter money and are overturned if money creation through open market...

The book analyzes the German welfare state. It starts from a theoretical perspective and then develops changes in social security, public health care, and unemployment insurance.

The book compares funded and unfunded pension schemes. This is done within a simple overlapping generations framework.

The authors outline a public pension reform where contribution rates are reduced to zero over a very long horizon and in a Pareto-improving fashion.

The paper evaluates the theoretical literature on public pension schemes. First, the terms pay-as-you-go and capital reserve are made precise. These two systems are then compared, followed by a consideration of their efficiency properties. Thereafter conversion policies are discussed.

Public pension schemes can be designed either as capital reserve systems or as unfunded (or pay-as-you-go) schemes. In the literature it has been alleged that unfunded schemes are intergenerationally efficient in Pareto's sense. Here we show that this holds only if contributions to the system...

The article investigates whether compulsory old age provisions are justified from an economic point of view. According to a standard argument, some people would not provide sufficiently for their old age in the absence of a compulsory pension system – they would become a charge to the public....