Designing an Optimal Public Pension System
AbstractThis paper uses a two-period overlapping generations model in order to provide a theoretical design for an optimal public pension system based on a partial equilibrium analysis. Household preferences only depend on two periods consumption and leisure and is homogeneous of degree m with respect to consumption in the working and retired periods. We present characteristic features of an optimal public pension system in this paper. First, differences in the population growth rate do not affect the relative level of the optimal net lifetime burden rate of each generation. Second, if m≠0 or m
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Bibliographic InfoPaper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series CIS Discussion paper series with number 578.
Length: 40 p.
Date of creation: Jan 2013
Date of revision:
Overlapping generations model; public pension; optimal burden rate;
Find related papers by JEL classification:
- D30 - Microeconomics - - Distribution - - - General
- D60 - Microeconomics - - Welfare Economics - - - General
- D90 - Microeconomics - - Intertemporal Choice - - - General
- H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
- H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
This paper has been announced in the following NEP Reports:
- NEP-AGE-2013-02-03 (Economics of Ageing)
- NEP-ALL-2013-02-03 (All new papers)
- NEP-DEM-2013-02-03 (Demographic Economics)
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