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overlapping generationsinterim paretohuman capitalolg modelsocial securityinsurance macroeconomicmodel productionsoziale sicherheitpareto optimumpareto efficiencyimproving rolepareto improvingdynamic riskprovide insuranceaggregate productivitypayg socialeffects socialcapital accumulationpareto improveimprove marketmarket allocationsresembles ponziponzi schemescheme insteadinstead rollingdebt interpretinterpret schemerolls insuranceinsurance contractstochastischer prozessstochastic processdynamisches gleichgewichtefficiency paretooptimality stochasticproduction socialreal worldrole designedcompetitive equilibriumoptimality equivalentexchange efficiencyallgemeines gleichgewichtgeneral equilibriumfinanzierung der sozialversicherungsocial security financingallocative efficiencydynamic equilibriumcapital investmentperspective socialrole governmentdistribution humanpublic debtefficiency interimanalyze interactioninteraction risksharing capitalproduction completecharacterization interimcharacterization subsumessubsumes equilibriaequilibria paygsecurity competitiveequilibrium interimequivalent intergenerationalintergenerational exchange
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