IDEAS home Printed from https://ideas.repec.org/a/jns/jbstat/v219y1999i3-4p494-503.html
   My bibliography  Save this article

Pareto Efficient Pay-as-you-go Pension Systems with Multi-Period Lives / Pareto-effiziente umlagefinanzierte Alterssicherungssysteme bei mehrperiodigem Arbeitsleben

Author

Listed:
  • Wrede Matthias

    (Department of Economics, University of Bamberg, D-96045 Bamberg, Germany)

Abstract

This paper employs a three-period-overlapping-generations model to discuss intergenerational (in-)efficiency of a PAYG system when labor supply is endogenous. Four main results will be derived.

Suggested Citation

  • Wrede Matthias, 1999. "Pareto Efficient Pay-as-you-go Pension Systems with Multi-Period Lives / Pareto-effiziente umlagefinanzierte Alterssicherungssysteme bei mehrperiodigem Arbeitsleben," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 219(3-4), pages 494-503, June.
    • Handle: RePEc:jns:jbstat:v:219:y:1999:i:3-4:p:494-503
    DOI: 10.1515/jbnst-1999-3-416
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/jbnst-1999-3-416
    Download Restriction: no
    File URL: https://libkey.io/10.1515/jbnst-1999-3-416?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Brunner, Johann K., 1996. "Transition from a pay-as-you-go to a fully funded pension system: The case of differing individuals and intragenerational fairness," Journal of Public Economics, Elsevier, vol. 60(1), pages 131-146, April.
    2. Homburg, Stefan, 1990. "The Efficiency of Unfunded Pension Schemes," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 146, pages 640-647.
    3. Buchholz, Wolfgang & Wiegard, Wolfgang, 1997. "Zeit(in)konsistente Steuerpolitik," Tübinger Diskussionsbeiträge 115, University of Tübingen, School of Business and Economics.
    4. Breyer, Friedrich & Straub, Martin, 1993. "Welfare effects of unfunded pension systems when labor supply is endogenous," Journal of Public Economics, Elsevier, vol. 50(1), pages 77-91, January.
    5. Fehr, Hans, 1998. "Privatization of public pensions in Germany: Who gains and how much?," Tübinger Diskussionsbeiträge 148, University of Tübingen, School of Business and Economics.
    6. Sandmo, Agnar, 1987. "A Reinterpretation of Elasticity Formulae in Optimum Tax Theory," Economica, London School of Economics and Political Science, vol. 54(213), pages 89-96, February.
    7. James J. Heckman & Thomas E. Macurdy, 1980. "A Life Cycle Model of Female Labour Supply," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 47(1), pages 47-74.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Damjanovic, Tatiana, 2003. "The possibility of Pareto-Improving Pension Reform: More Arguments," Royal Economic Society Annual Conference 2003 53, Royal Economic Society.
    2. Robert Fenge & Silke Uebelmesser & Martin Werding, 2002. "Second-best Properties of Implicit Social Security Taxes: Theory and Empirical Evidence," CESifo Working Paper Series 743, CESifo.
    3. Mathias Kifmann, 2008. "Age-Dependent Taxation and the Optimal Retirement Benefit Formula," German Economic Review, Verein für Socialpolitik, vol. 9, pages 41-64, February.
    4. Hans-Werner Sinn, 2000. "Why a Funded Pension System is Useful and Why It is Not Useful," NBER Working Papers 7592, National Bureau of Economic Research, Inc.
    5. Hans-Werner Sinn, 2000. "Why a Funded Pension System is Needed and Why It is Not Needed," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 7(4), pages 389-410, August.
    6. Hans-Werner Sinn, 1999. "Pension Reform and Demographic Crisis: Why a Funded System is Needed and why it is not Needed," CESifo Working Paper Series 195, CESifo.
    7. Martin Werding, 2007. "Actuarially accurate benefit reductions for early retirement," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 60(16), pages 19-32, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wrede, Matthias, 1998. "Pareto efficiency of the pay-as-you-go pension system in a three-period-OLG model," BERG Working Paper Series 27, Bamberg University, Bamberg Economic Research Group.
    2. Robert Fenge & Silke Uebelmesser & Martin Werding, 2002. "Second-best Properties of Implicit Social Security Taxes: Theory and Empirical Evidence," CESifo Working Paper Series 743, CESifo.
    3. Andersen, Torben M. & Bhattacharya, Joydeep & Gestsson, Marias H., 2021. "Pareto-improving transition to fully funded pensions under myopia," Journal of Demographic Economics, Cambridge University Press, vol. 87(2), pages 169-212, June.
    4. Assar Lindbeck & Mats Persson, 2003. "The Gains from Pension Reform," Journal of Economic Literature, American Economic Association, vol. 41(1), pages 74-112, March.
    5. Hans Fehr, 2009. "Computable Stochastic Equilibrium Models and Their Use in Pension- and Ageing Research," De Economist, Springer, vol. 157(4), pages 359-416, December.
    6. Pascal Belan & Philippe Michel & Bertrand Wigniolle, 2007. "Capital Accumulation, Welfare, and the Emergence of Pension-Fund Activism," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 63(1), pages 54-82, March.
    7. Christian Keuschnigg & Mirela Keuschnigg, 2004. "Aging, Labor Markets, and Pension Reform in Austria," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 60(3), pages 359-392, September.
    8. Ulrich van Suntum, "undated". "A way out of pay-as-you-go without a double burden," Working Papers 200105, Institute of Spatial and Housing Economics, Munster Universitary.
    9. Yvonne Adema & Lex Meijdam & Harrie Verbon, 2009. "The international spillover effects of pension reform," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 16(5), pages 670-696, October.
    10. Breyer Friedrich, 2000. "Kapitaldeckungs- versus Umlageverfahren," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 1(4), pages 383-405, November.
    11. Damjanovic, Tatiana, 2003. "The possibility of Pareto-Improving Pension Reform: More Arguments," Royal Economic Society Annual Conference 2003 53, Royal Economic Society.
    12. Day, Creina & Day, Garth, 2021. "Aging, voters and lower income tax: A role for pension design," Economic Modelling, Elsevier, vol. 94(C), pages 560-569.
    13. van Suntum, Ulrich, 2010. "A way out of pay-as-you-go without a double burden," CAWM Discussion Papers 27, University of Münster, Münster Center for Economic Policy (MEP).
    14. Casarico, Alessandra, 1998. "Pension Reform and Economic Performance under Imperfect Capital Markets," Economic Journal, Royal Economic Society, vol. 108(447), pages 344-362, March.
    15. Pascal Belan, 2001. "Transition vers un système par capitalisation dans un modèle de croissance endogène," Revue Économique, Programme National Persée, vol. 52(6), pages 1205-1226.
    16. Fehr, Hans, 1999. "Welfare Effects of Dynamic Tax Reforms," Beiträge zur Finanzwissenschaft, Mohr Siebeck, Tübingen, edition 1, volume 5, number urn:isbn:9783161470165, September.
    17. Robert Fenge & Silke Uebelmesser & Martin Werding, 2006. "On the Optimal Timing of Implicit Social Security Taxes Over the Life Cycle," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 62(1), pages 68-107, March.
    18. Johann K. Brunner, 2002. "Welfare effects of pension finance reform," Economics working papers 2002-12, Department of Economics, Johannes Kepler University Linz, Austria.
    19. Mark A. Roberts, 2013. "Pareto-improving pension reform through technological implementation," Scottish Journal of Political Economy, Scottish Economic Society, vol. 60(3), pages 317-342, July.
    20. Breyer, Friedrich, 1994. "Leitlinien für eine Systemkorrektur in der Rentenversicherung," Discussion Papers, Series I 274, University of Konstanz, Department of Economics.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:jns:jbstat:v:219:y:1999:i:3-4:p:494-503. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.