Reforming Social Security: Assessing the Effects of Alternative Funding Strategies in a Small Open Economy
AbstractPopulation ageing implies that the large pay-as-you-go social security programs implemented in many OECD economies will run into severe financial problems. By means of a numerical overlapping generations model, this paper investigates the intergenerational welfare effects of a transition to funded programs. Such programs imply permanent increases in the welfare of the young and unborn generations. We demonstrate that the size of the welfare gains varies significantly between alternative funding strategies.
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Bibliographic InfoPaper provided by Norwegian School of Economics and Business Administration- in its series Papers with number 17/97.
Length: 22 pages
Date of creation: 1997
Date of revision:
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Postal: NORWEGIAN SCHOOL OF ECONOMICS AND BUSINESS ADMINISTRATION, HELLEVEIEN 30, 5035 BERGEN SANDVIKEN NORWAY.
Phone: 5595 9000
Fax: 5595 9100
Web page: http://www.nhh.no/
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SOCIAL SECURITY ; PENSION FUNDS;
Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
- C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
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