Discussion of 'Pension Systems and the Allocation of Macroeconomic Risks' by L. Bovenberg and H. Uhlig

Philippe Weil

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Abstract: General comments : An ambitious project ; It provides a quantitative characterization of optimal intergenerational risk sharing in a world in which almost everything is random (productivity, demography, longevity), and in which investment is the engine of long-run growth (Ak model). This is done in a log-linear framework. Hence it is possible to understand precisely the role of preferences and technology on the shape of the optimal policy mix. A tour de force, indeed (...).

Date: 2006-06-16
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Published in NBER International Seminar on Macroeconomics 2006, National Bureau of Economic Research (NBER), Jun 2006, Tallinn, Estonia

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Working Paper: Discussion of 'Pension Systems and the Allocation of Macroeconomic Risks' by L. Bovenberg and H. Uhlig (2006)
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