In this paper we investigate the effects of unfunded public pension schemes in a small open economy with land where young households are perfectly mobile. The burden of the intergenerational transfer system is entirely borne by members of the old generation. The incidence, however, varies with the policy pursued by the government. If it levies a constant contribution, the transfer recipients as well as the landowners carry the burden. In the case of a constant pension payment the whole loss is shifted to the owners of the immobile factor land. Furthermore, this policy may be inapplicable in the long run.
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Article provided by Mohr Siebeck, Tübingen in its journal FinanzArchiv.
Volume (Year): 57 (2000) Issue (Month): 1 (September) Pages: 77- Download reference. The following formats are available: HTML
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Find related papers by JEL classification: H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions R23 - Urban, Rural, and Regional Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
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