Retraites, soutenabilité et garantie du gouvernement
AbstractWe study in an OLG model the key role of the government in the survival of the pay-as-you-go retirement systems. We show that retirement systems with strong contribution rate, as observed in Europe, are long-term viable only if a sufficient part of the rights accumulated by the pensioners when they were active is guaranteed by the government. This condition can nevertheless be moderated if the agents of the economy believe enough in this guarantee. Thus, we can interpret the cut in the pension rights, accepted by the pensioners of certain schemes, either like the only consequence of an unfavourable demography but also like resulting from a revision of belief.
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Bibliographic InfoArticle provided by De Boeck Université in its journal Recherches économiques de Louvain.
Volume (Year): 71 (2005)
Issue (Month): 3 ()
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Web page: http://www.cairn.info/revue-recherches-economiques-de-louvain.htm
Other versions of this item:
- Gilles LE GARREC, 2005. "Retraites, soutenabilité et garantie du gouvernement," Discussion Papers (REL - Recherches Economiques de Louvain) 2005034, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
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- Gilles Le Garrec, 2005.
"Systèmes de retraite et vieillissement,"
Documents de Travail de l'OFCE
2005-21, Observatoire Francais des Conjonctures Economiques (OFCE).
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