Pareto improving social security reform with endogenous growth
AbstractIt is generally accepted that moving from an unfunded to a funded social security sys- tem implies a welfare loss for the transition generation, that is the generation that has to pay twice: first, saving for its own retirement and second, contributing to the pensions of the then retired generation. This paper shows that in a setting of endogenous growth with positive externality such a transition can be Pareto-improving.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers with number 1996057.
Date of creation: 01 Nov 1996
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Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- D9 - Microeconomics - - Intertemporal Choice
- J1 - Labor and Demographic Economics - - Demographic Economics
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