Temptation and social security in a dynastic framework
We investigate welfare and aggregate implications of a pay-as-you-go (PAYG) social security system in a dynastic framework in which individuals have self-control problems. The presence of self-control problems induces individuals to save less because of their urge for temptation towards current consumption. Individuals' efforts to balance between the short-term urge for temptation and the long-term commitment for consumption smoothing result in self-control costs. In this environment PAYG...[Show more]
|Collections||ANU Research Publications|
|Source:||European Economic Review|
|01_Kumru_Temptation_and_social_security_2012.pdf||1.1 MB||Adobe PDF||Request a copy|
|02_Kumru_Temptation_and_social_security_2012.pdf||299.87 kB||Adobe PDF||Request a copy|
Items in Open Research are protected by copyright, with all rights reserved, unless otherwise indicated.