Taxation, pension and saving in a small open economy
AbstractAn overlapping generations model of a small open economy is used to explore several policy options aimed at reducing the burden of income taxes and pay-as-you-go contributions on labor income so as to improve the incentives to supply labor. Including the return of funded collective pension plans in the tax base turns out to be counterproductive. Cutting pay-as-you-go benefits, in contrast, succeeds in improving efficiency in general and labor-market incentives in particular. Under specific variants of the funded collective plan, reducing pay-as-you-go benefits even proves to be Pareto welfare improving. Copyright 1994 by The editors of the Scandinavian Journal of Economics.
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Bibliographic InfoPaper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-148754.
Date of creation: 1994
Date of revision:
Publication status: Published in Scandinavian Journal of Economics (1994) v.96, p.403-424
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Other versions of this item:
- Broer, D Peter & Westerhout, Ed W M T & Bovenberg, A Lans, 1994. " Taxation, Pensions and Saving in a Small Open Economy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 96(3), pages 403-24.
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