Intergenerational Insurance (Record no. 134609)

MARC details
000 -LEADER
fixed length control field 01323nas a2200205Ia 4500
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 241128c99999999xx |||||||||||| ||und||
022 ## - INTERNATIONAL STANDARD SERIAL NUMBER
International Standard Serial Number 0022-3808
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Lancia, Francesco
9 (RLIN) 123834
245 #0 - TITLE STATEMENT
Title Intergenerational Insurance
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Name of publisher, distributor, etc. Journal of Political Economy
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Date of publication, distribution, etc. 2024
300 ## - PHYSICAL DESCRIPTION
Extent 3500-3544
520 ## - SUMMARY, ETC.
Abstract How should successive generations insure each other when the young can default on previously promised transfers to the old? This paper studies intergenerational insurance that maximizes the expected discounted utility of all generations subject to participation constraints for each generation. If complete insurance is unattainable, the optimal intergenerational insurance is history dependent even when the environment is stationary. The risk from a generational shock is spread into the future with periodic “resetting.” If we interpret intergenerational insurance in terms of debt, the fiscal reaction function is nonlinear and the risk premium on debt is lower than the risk premium with complete insurance.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Debt
9 (RLIN) 1589
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Fiscal Reaction
9 (RLIN) 123835
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Intergenerational Insurance
9 (RLIN) 123836
700 ## - ADDED ENTRY--PERSONAL NAME
Personal name Russo, Alessia
9 (RLIN) 123837
700 ## - ADDED ENTRY--PERSONAL NAME
Personal name Worrall, Tim
9 (RLIN) 123838
856 ## - ELECTRONIC LOCATION AND ACCESS
Uniform Resource Identifier <a href="https://www.journals.uchicago.edu/doi/10.1086/730206">https://www.journals.uchicago.edu/doi/10.1086/730206</a>
999 ## - SYSTEM CONTROL NUMBERS (KOHA)
Koha biblionumber 134609
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        Dr VKRV Rao Library Dr VKRV Rao Library 28/11/2024 Vol. 132, No. 10   AI867 28/11/2024 28/11/2024 Article Index