Welfare and Generational Equity in Sustainable Unfunded Pension Systems

Alan J. Auerbach, Ronald Lee

NBER Working Paper No. 14682
Issued in January 2009

---- Acknowledgements -----

This research was supported by the U.S. Social Security Administration through grant #10-P-98363-1-02 to the National Bureau of Economic Research as part of the SSA Retirement Research Consortium and by NIA through the grant R37-AG025488. The findings and conclusions expressed are solely those of the authors and do not represent the views of SSA, any agency of the Federal Government, or the NBER. Ed Palmer and Ole Settergren gave us valuable comments and advice that helped us to model the actual Swedish system. Alex Ludwig provided comments and very helpful information for modeling the German system. We also thank participants in the NBER Summer Institute, the NBER Public Economics Program meeting, including our discussant Peter Diamond, and a seminar at Stockholm University for comments on earlier drafts, and gratefully acknowledge the assistance of Anne Moore, Erin Metcalf, and Carl Boe. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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