全球智库信息集成服务系统(G2TT): DP6810 Inflation Dynamics with Search Frictions: A Structural Econometric Analysis

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP6810
	DP6810 Inflation Dynamics with Search Frictions: A Structural Econometric Analysis
	J David López-Salido; Michael Krause; Thomas Lubik
发表日期	2008-04-25
出版年	2008
语种	英语
摘要	This paper studies the design of a nonlinear social security scheme in a society where individuals differ in two respects: productivity and degree of myopia. Myopic individuals may not save 'enough' for their retirement because their 'myopic self' emerges when labor supply and savings decisions are made. The social welfare function is paternalistic: the rate of time preference of the far-sighted (which corresponds to the 'true' preferences of the myopics) is used for both types. We show that the paternalistic solution does not necessarily imply forced savings for the myopics. This is because paternalistic considerations are mitigated or even outweighed by incentive effects. Our numerical results suggest that as the number of myopic individuals increases, there is less redistribution and more forced saving. Furthermore, as the number of myopic increases, the desirability of social security (measured by the difference between social welfare with and without social security) increases.
主题	Public Economics
关键词	Dual self Myopia Paternalism
URL	https://cepr.org/publications/dp6810
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/535648
推荐引用方式 GB/T 7714	J David López-Salido,Michael Krause,Thomas Lubik. DP6810 Inflation Dynamics with Search Frictions: A Structural Econometric Analysis. 2008.