Finance Papers

Document Type

Journal Article

Date of this Version

6-1989

Publication Source

Journal of Public Economics

Volume

39

Issue

1

Start Page

1

Last Page

15

DOI

10.1016/0047-2727(89)90051-0

Abstract

This paper analyzes the effects of lump-sum tax policy in an overlapping generations model in which consumers have uncertain longevity. It extends previous analyses by considering the case in which private insurance arrangements are actuarially unfair. In addition, it considers the polar case of actuarially fair insurance and the polar case of no insurance. A general condition for debt neutrality is derived. This condition depends explicitly on the degree of actuarial unfairness in insurance and on the extent to which parents care about the utility of their children.

Copyright/Permission Statement

© 1989. This manuscript version is made available under the CC-BY-NC-ND 4.0 license

Embargo Date

3-5-2004

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Date Posted: 27 November 2017

This document has been peer reviewed.