Intergenerational risk sharing and social security in an economy with land

Wolfram Richter

Journal of Economics, 1993, vol. 58, issue 1, 103 pages

Abstract: Homburg (1990 and 1992) shows that the existence of productive land prevents an economy from being dynamically inefficient. The result is extended to a world with uncertain labour income. It is shown that PAYG social security fails to be Pareto improving on almost all paths of economic growth. Copyright Springer-Verlag 1993

Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:kap:jeczfn:v:58:y:1993:i:1:p:91-103

DOI: 10.1007/BF03052293

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