Social security and risk sharing: A survey of four decades of economic analysis
综述了四十年经济理论，评估社会保障作为应对未充分利用、缺失或不完全市场的解决方案，通过强制储蓄和集体风险分担改善福利，并分析个体行为反应可能抵消或逆转福利收益。
Abstract With looming fiscal pressure from an aging population, policy makers must grapple with the question of how to restore solvency to the Social Security budget. At this crossroads, it seems wise to evaluate the effectiveness of the program in making people better off. Specifically, we survey four decades of economic theory to examine Social Security as a potential solution to underutilized, missing, or incomplete markets. We synthesize and highlight the ways in which the program improves wellbeing through mandatory saving and collective risk‐sharing, as well as the ways in which behavioral responses of individuals may unwind or even over‐turn the welfare gains of the program.