A note on intergenerational risk sharing and the design of pay-as-you-go pension programs
AbstractDifferent versions of pay-as-you-go public pension programs may have entirely different effects on the intergenerational distribution of income risk. If the pension benefit is a fixed proportion of previous labor income, a pay-as-you-go program increases the net income risk of all generations. On the other hand, a pay-as-you-go program characterized by a fixed labor income tax rate and uncertain pension benefits provides intergenerational risk sharing.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Springer in its journal Journal of Population Economics.
Volume (Year): 11 (1998)
Issue (Month): 3 ()
Note: Received: 10 December 1996 / Accepted: 24 November 1997
Contact details of provider:
Web page: http://link.springer.de/link/service/journals/00148/index.htm
More information through EDIRC
Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Friedrich Breyer & Mathias Kifmann, 2003.
"The German Retirement Benefit Formula: Drawbacks and Alternatives,"
Discussion Papers of DIW Berlin
326, DIW Berlin, German Institute for Economic Research.
- Friedrich Breyer & Mathias Kifmann, 2004. "The German Retirement Benefit Formula: Drawbacks and Alternatives," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 60(1), pages 63-, April.
- Beetsma, Roel & Bovenberg, A Lans, 2007.
"Pension systems, Intergenerational Risk Sharing and Inflation,"
CEPR Discussion Papers
6089, C.E.P.R. Discussion Papers.
- R. Beetsma & A. L. Bovenberg, 2006. "Pension systems, intergenerational risk sharing and inflation," European Economy - Economic Papers 257, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
- Knell, Markus, 2010. "How automatic adjustment factors affect the internal rate of return of PAYG pension systems," Journal of Pension Economics and Finance, Cambridge University Press, vol. 9(01), pages 1-23, January.
- repec:onb:oenbwp:y::i:146:b:1 is not listed on IDEAS
- Lucas Bretschger & Karen Pittel, 2005.
"Innovative investments, natural resources, and intergenerational fairness : are pension funds good for sustainable development?,"
CER-ETH Economics working paper series
05/36, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
- Lucas Bretschger & Karen Pittel, 2005. "Innovative Investments, Natural Resources and Intergenerational Fairness: Are Pension Funds Good for Sustainable Development?," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 141(III), pages 355-376, September.
- Roel Beetsma & Ward Romp, 2013. "Participation Constraints in Pension Systems," Tinbergen Institute Discussion Papers 13-149/VI, Tinbergen Institute.
- Jovan Zamac, 2005. "Pension Design when Fertility Fluctuates: The Role of Capital Mobility and Education Financing," CESifo Working Paper Series 1569, CESifo Group Munich.
- Zamac , Jovan, 2005. "Winners and Losers from a Demographic Shock under Different Intergenerational Transfer Schemes," Working Paper Series 2005:13, Uppsala University, Department of Economics.
- Friedrich Breyer, 2000. "Kapitaldeckungs- versus Umlageverfahren," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 1(4), pages 383-405, November.
- Wagener, Andreas, 2004.
"On intergenerational risk sharing within social security schemes,"
European Journal of Political Economy,
Elsevier, vol. 20(1), pages 181-206, March.
- Andreas Wagener, 2001. "On Intergenerational Risk Sharing within Social Security Schemes," CESifo Working Paper Series 499, CESifo Group Munich.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F Baum).
If references are entirely missing, you can add them using this form.