The interaction of social security (based on the two pillars unemployment insurance and public pension system), unemployment, and economic growth is considered in an overlapping generations model with endogenous growth and efficiency wages. The impact of each worker's and employer's social security contribution rate on unemployment and economic growth is derived. The general equilibrium analysis reveals the astonishing result that the employers' contribution rate to the pension system has either no effect or a positive impact on employment which contradicts the partial analysis result. Furthermore, for a given financing rule no alternative pareto-improving set of contribution rates exists.
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Paper provided by University of Bonn, Germany in its series Discussion Paper Serie A with number
587.
Length: pages Date of creation: Nov 1998 Date of revision: Handle: RePEc:bon:bonsfa:587
Contact details of provider: Postal: Bonn Graduate School of Economics, University of Bonn, Adenauerallee 24 - 26, 53113 Bonn, Germany Fax: +49 228 73 9221 Web page: http://www.bgse.uni-bonn.de/index.php?id=517
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Find related papers by JEL classification: E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions J51 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Trade Unions: Objectives, Structure, and Effects
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