search query: @indexterm intergenerational transfers / total: 18
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| Author: | Rangel, A. |
| Title: | Forward and backward intergenerational goods: why is social security good for the environment? |
| Journal: | American Economic Review
2003 : JUN, VOL. 93:3, p. 813-834 |
| Index terms: | Environmental protection Intergenerational transfers Social security |
| Language: | eng |
| Abstract: | The ability of nonmarket institutions to invest optimally in forward intergenerational (FIGs), such as education and environment, when agents are selfish or exhibit paternalistic altruism is studied in this paper. The authors show that backward intergenerational goods (BIGs), such as social security, play a crucial role in sustaining investment in FIGs: without them investment is inefficiently low, but with them optimal investment is possible. |
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