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Social security and foreign indebtedness in a small open economy

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Author Info
Søren Nielsen
Abstract

This paper investigates the consequences of changes in a small open economy's unfunded social security system for its net foreign asset position. We apply Blanchard's finite horizon framework and show how an increase in the social security system's benefit rate is likely to lead to foreign indebtedness, even when induced retirement is allowed for. Copyright Kluwer Academic Publishers 1994

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File URL: http://hdl.handle.net/10.1007/BF01000744
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Publisher Info
Article provided by Springer in its journal Open Economies Review.

Volume (Year): 5 (1994)
Issue (Month): 1 (March)
Pages: 47-63
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Handle: RePEc:kap:openec:v:5:y:1994:i:1:p:47-63

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Related research
Keywords: social security; pensions; foreign indebtedness;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Hubbard, R Glenn & Judd, Kenneth L, 1987. "Social Security and Individual Welfare: Precautionary Saving, Borrowing Constraints, and the Payroll Tax," American Economic Review, American Economic Association, vol. 77(4), pages 630-46, September. [Downloadable!] (restricted)
  2. Kotlikoff, Laurence J, 1979. "Social Security and Equilibrium Capital Intensity," The Quarterly Journal of Economics, MIT Press, vol. 93(2), pages 233-53, May. [Downloadable!] (restricted)
  3. Blanchard, Olivier J, 1985. "Debt, Deficits, and Finite Horizons," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 223-47, April. [Downloadable!] (restricted)
    Other versions:
  4. R. Glenn Hubbard & Kenneth L. Judd, 1986. "Liquidity Constraints, Fiscal Policy, and Consumption," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 17(1986-1), pages 1-60. [Downloadable!]
  5. Abel, Andrew B, 1985. "Precautionary Saving and Accidental Bequests," American Economic Review, American Economic Association, vol. 75(4), pages 777-91, September. [Downloadable!] (restricted)
  6. Alan J. Auerbach & Laurence J. Kotlikoff, 1984. "An Examination of Empirical Tests of Social Security and Savings," NBER Working Papers 0730, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Malick Souare, 2003. "Macroeconomic Implications of Population Aging and Public Pensions," Social and Economic Dimensions of an Aging Population Research Papers 100, McMaster University. [Downloadable!]
  2. William Scarth, 1999. "Alternatives for Raising Living Standards," Department of Economics Working Papers 1999-08, McMaster University. [Downloadable!]
  3. William Scarth, 2003. "Population Aging, Productivity, and Growth in Living Standards," Quantitative Studies in Economics and Population Research Reports 380, McMaster University. [Downloadable!]
  4. Hian Teck Hoon & Edmund S. Phelps, 2004. "Future fiscal and budgetary shocks," Discussion Papers 0405-01, Columbia University, Department of Economics. [Downloadable!]
    Other versions:
  5. William Scarth, 2003. "Population Aging, Productivity, and Growth in Living Standards," Social and Economic Dimensions of an Aging Population Research Papers 90, McMaster University. [Downloadable!]
  6. William Scarth, 1999. "Alternatives for Raising Living Standards," Social and Economic Dimensions of an Aging Population Research Papers 5, McMaster University. [Downloadable!]
  7. Christiane Nickel & Philipp Rother & Angeliki Theophilopoulou, 2008. "Population ageing and public pension reforms in a small open economy," Working Paper Series 863, European Central Bank. [Downloadable!]
  8. William Scarth, 1999. "Alternatives for Raising Living Standards," Quantitative Studies in Economics and Population Research Reports 344, McMaster University. [Downloadable!]
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