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Retraites, croissance et inégalités en présence d'individus myopes

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  • Oliver Paddison
  • Frédéric Docquier
  • Mohamed Bouzahzah

Abstract

[fre] Dans ce papier, on développe un modèle de croissance endogène avec agents myopes. On suppose, comme Feldstein (1985), que les taux d'actualisation de l'utilité et du revenu futur des agents sont multipliés par un facteur de myopie identique et distribué uniformément sur [ 0 1]. Dans ce cadre, l'instauration d'un système de répartition pure réduit la croissance, mais aussi les inégalités au sein des générations. En croissance stable, un régime de capitalisation permet généralement d''atteindre les mêmes objectifs en termes d'équité tout en stimulant le taux de croissance. On s'interroge alors sur les possibilités de transition de la répartition pure vers la capitalisation : la présence d'agents myopes accroît fortement les coûts de transition supportés par les premières générations. [eng] Pensions, Growth and Inequalities in the Presence of Myopic Individuals.. This article discusses an endogenous growth model involving myopic agents. Like Feldstein (1985), we have assumed that the discount rates of the utility and future income of economic agents are multiplied by a myopia factor distributed uniformly over [0.1]. Within this framework, the creation of a pure pay-as-you-go system not only reduces growth but also inequalities within generations. In a period of stable growth, a funded system generally makes it possible to achieve the same fairness objectives while stimulating the growth rate. The article examines the possibility of switching from a pure pay-as-you-go system to pre-funding : the presence of myopic agents significantly raises the transition costs borne by the first generations.

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Bibliographic Info

Article provided by Programme National Persée in its journal Économie & prévision.

Volume (Year): 155 (2002)
Issue (Month): 4 ()
Pages: 31-44

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Handle: RePEc:prs:ecoprv:ecop_0249-4744_2002_num_155_4_6868

Note: DOI:10.3406/ecop.2002.6868
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Web page: http://www.persee.fr/web/revues/home/prescript/revue/ecop

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