On optimality in intergenerational risk sharing
For dynamic stochastic economies with finitely lived agents and one good in every period the author discusses in detail problems of intergenerational transfers, e.g., extending optimality results, that are known from non-stochastic OLG economies. In the here considered stochastic set up the author defines several different Pareto optimality concepts for allocations and gets necessary and sufficient conditions for optimality, also results for the optimality of an equilibrium in such an economy under different assumptions (e.g., incomplete markets).
- On the interaction between risk sharing and capital accumulation in a stochastic OLG model with production
- Optimality in stochastic OLG models: theory for tests
- Conditional Pareto optimality of stationary equilibrium in a stochastic overlapping generations model
- Stationary Pareto optimality of stochastic asset equilibria with overlapping generations
- Stochastic OLG models, market structure, and optimality
- Golden rule optimality in stochastic OLG economies
- Bubbly Markov equilibria
- On the optimal size of social security in the presence of a stock market
- On the interaction between risk sharing and capital accumulation in a stochastic OLG model with production
- Intergenerational contracts and their decomposition
- Short sales, destruction of resources, welfare
- A goal-focusing approach to analysis of intergenerational transfers of income
- Intergenerational Altruism, Dynastic Equilibria and Social Welfare
- Intergenerational redistribution and risk sharing with changing longevity
- Introduction to general equilibrium
- Endogenous market incompleteness without market frictions: dynamic suboptimality of competitive equilibrium in multiperiod overlapping generations economies
- Indeterminacy in stochastic overlapping generations models: real effects in the long run
- On the role of labor supply for the optimal size of social security
- Social security and risk sharing
- The unit root property and optimality: A simple proof
- Introduction to the special issue on models of debt and debt crises
- Debt and welfare in economies with land
- Dividend paying assets, the unit root property, and suboptimality
- Optimality in stochastic OLG models: theory for tests
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