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 …

Policy uncertainty reduces individual welfare when individuals have limited opportunities to
mitigate or insure against the resulting consumption fluctuations. We field an original survey …

Abstract Changes in living environments due to natural hazards are important indicators that
affect livelihood and sustainable development, particularly for those farmers residing in poor …

We develop a model to study optimal decision making in the face of uncertainty about the
timing and structure of a future event. The model is used to study optimal decision making …

This paper quantifies the welfare gains from Social Security when individuals face
uninsurable longevity risk. While past researchers have studied this basic question, we do …

Timing risk refers to a situation in which the timing of an economically important event is
unknown (risky) from the perspective of an economic decision maker. While this special …

To maintain long-run solvency in light of changing demographics, the US Social Security
system needs to be reformed. We present three reform options that protect the retirement …

Tämä pro gradu-tutkielma käy läpi Suomen sosiaaliturvaa ja sosiaaliturvauudistusta.
Tutkimuksen tarkoituksena on selvittää, miten sosiaaliturvauudistuksella ja sen tavoitteilla …

ABSTRACT The Social Security trust fund will be exhausted in the early 2030s. The US
government will need to make a choice about how to address the impending trust fund …

I develop a theory of bounded rationality that I call lifecycle horizon learning to explore the
welfare cost of Social Security policy uncertainty. Agents use adaptive expectations to …