Intergenerational demographic risk-sharing properties of current social security systems in closed economies and open economies.

• Main Authors: Wang, Jingyi., Ye, Honghai.
• 其他作者: School of Humanities and Social Sciences
• 格式: Final Year Project
• 語言: English
• 出版: 2012
• 主題: DRNTU::Social sciences
• 在線閱讀: http://hdl.handle.net/10356/48867
• 機構: Nanyang Technological University

This paper examines the risk-sharing properties of two major social security systems, the Pay-as-You-Go (PAYGO) Defined Benefit (DB) systems and the pre-funding systems, in both closed and open economies. An Overlapping Generations (OLG) model is constructed to formulate consumer’s saving and consum...