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Marital Status and Derived Pension Rights: A Political Economy Model of Public Pensions with Borrowing Constraints

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  • Tetsuo Ono

    ()
    (Graduate School of Economics, Osaka University)

Abstract

This paper develops an overlapping-generation model featuring four types of households: single female, single male, one-breadwinner couple and two-breadwinner couple. The paper considers majority voting over public pension in the presence of derived pension rights for one-breadwinner couples. In an economy with a low in- tertemporal elasticity of substitution, borrowing-constrained one-breadwinner cou- ples may prefer a lower tax rate than do other types of households, although the for- mer attain a higher benefit-to-cost ratio of public pension than do others. Changes in the gender wage gap, the level of derived pension rights, and the fraction of two- breadwinner couples produce an inverse U-shaped relationship between the relevant variable and the tax rate.

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Bibliographic Info

Paper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number 11-32-Rev.

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Length: 35 pages
Date of creation: Nov 2011
Date of revision: May 2012
Handle: RePEc:osk:wpaper:1132r

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Web page: http://www.econ.osaka-u.ac.jp/
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Keywords: Borrowing constraint; Marital status; Gender wage gap; Derived pen- sion rights; Political economy;

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