Social Insurance and Transition
研究社会保险对经济转型的一般均衡效应，发现虽然社会保险能提高福利，但可能减缓从国有部门向私营部门的转型速度，这一结果取决于利率和储蓄的市场结构互动。
The authors study the general equilibrium effects of social insurance on transition in a model in which the process of moving workers from matches in the state sector to new matches in the private sector takes time and involves uncertainty. As might be expected, adding social insurance to an economy without any improves welfare. Contrary to standard intuition, however, adding social insurance may slow transition. The authors show that this result depends crucially on general equilibrium interactions of interest rates and savings under alternative market structures. Copyright 1996 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.