Published
2001 by National Bureau of Economic Research in Cambridge, MA .
Written in
Edition Notes
| Statement | Laurence Ball, N. Gregory Mankiw. |
| Series | NBER working paper series -- no. 8270, Working paper series (National Bureau of Economic Research) -- working paper no. 8270. |
| Contributions | Mankiw, N. Gregory., National Bureau of Economic Research. |
| The Physical Object | |
|---|---|
| Pagination | 39 p. ; |
| Number of Pages | 39 |
| ID Numbers | |
| Open Library | OL22420741M |
If you are interested in understanding how intergenerational risk sharing can be applied to social security design, Laurence M. Ball's book, "Intergenerational risk sharing in the spirit of Arrow, Debreu, and Rawls, with applications to social security design," is a must-read. Published in 2001, this book delves into the economic aspects of intergenerational relations, risk, finance, and generational accounting. It provides valuable insights into the design of social security systems and the distribution of risk across generations. In this article, we will explore the key themes and applications discussed in Ball's book.
Intergenerational risk sharing refers to the practice of distributing risks and redistributing wealth across different generations. It enables the allocation of resources and risks in a way that ensures fairness and stability over time. The principles of Arrow, Debreu, and Rawls serve as a foundation for understanding and analyzing intergenerational risk sharing strategies.
In his book, Ball explores various ways of implementing intergenerational risk sharing while considering the economic implications and the well-being of different generations. He delves into the concept of redistributive transfers and how they can be structured to promote intergenerational equity.
One of the key areas of application discussed in the book is social security design. Ball analyzes the existing social security systems and proposes alternative designs that promote intergenerational risk sharing. He explores the potential trade-offs involved in different design choices and presents a framework for evaluating the efficiency and equity implications of these choices.
The book also highlights the importance of considering the demographic changes and economic pressures faced by social security systems. Ball provides insights into how intergenerational risk sharing can help address the challenges posed by an aging population and changing labor market dynamics.
Generational accounting, another subject covered in the book, plays a crucial role in understanding the financial implications of intergenerational risk sharing. Ball explains how generational accounting can help assess the fiscal sustainability of social security systems and evaluate the intergenerational welfare gains achieved through risk sharing mechanisms.
The author presents empirical evidence and case studies to support his arguments, making the book a valuable resource for policymakers, researchers, and anyone interested in understanding the complexities of social security design and intergenerational risk sharing.
Laurence M. Ball's book, "Intergenerational risk sharing in the spirit of Arrow, Debreu, and Rawls, with applications to social security design," provides a comprehensive analysis of intergenerational risk sharing and its applications to social security systems. It offers valuable insights into the economic aspects of intergenerational relations, risk, and finance. By examining different strategies and design choices, Ball offers a framework for promoting intergenerational equity and improving the efficiency and sustainability of social security systems. If you want to explore the intricacies of social security design and understand how intergenerational risk sharing can contribute to a more balanced distribution of risks and resources, this book is a must-read.
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