Social security as Markov equilibrium in OLG models: a note

Martin Gonzalez-Eiras

Review of Economic Dynamics, 2011, vol. 14, issue 3, 549-552

Abstract: I refine and extend the Markov perfect equilibrium of the social security policy game in Forni (2005) for the special case of logarithmic utility. Under the restriction that the policy function be continuous, instead of differentiable, the equilibrium is globally well defined and its dynamics always stable. (Copyright: Elsevier)

Keywords: Social security; Overlapping generations models; Markov equilibria (search for similar items in EconPapers)
JEL-codes: C72 H55 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (10)

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Working Paper: Social Security as Markov Equilibrium in OLG Models: A Note (2010)
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DOI: 10.1016/j.red.2010.07.002

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