Online First Journal of Money, Credit and Banking Online 29 Jul 2025Studying Generational Risk in a Large-Scale Life-Cycle ModelJasmina Hasanhodzic · Laurence J. KotlikoffHasanhodzic and Kotlikoff ask a question prior work assumed away: how large is generational risk, and can pay-go Social Security actually mitigate it? Earlier studies (Diamond, Bohn, Krueger-Kubler, …