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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.2.

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Length: 37 pages
Date of creation: Nov 2011
Date of revision: Jan 2013
Handle: RePEc:osk:wpaper:1132r2

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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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  3. Conde-Ruiz, J.I. & Galasso, V., 2000. "Positive Arithmetic of the Welfare State," Economics Working Papers, European University Institute eco2000/23, European University Institute.
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  6. Casey B. Mulligan & Xavier Sala-i-Martin, 1999. "Social security in theory and practice (I): Facts and political theories," Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra 384, Department of Economics and Business, Universitat Pompeu Fabra.
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  8. Doris Weichselbaumer & Rudolf Winter-Ebmer, 2005. "A Meta-Analysis of the International Gender Wage Gap," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 19(3), pages 479-511, 07.
  9. J. Ignacio Conde-Ruiz & Paola Profeta, 2007. "The Redistributive Design of Social Security Systems," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 117(520), pages 686-712, 04.
  10. CASAMATTA, Georges & CREMER, Helmuth & PESTIEAU, Pierre, 1999. "The political economy of social security," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 1999055, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  11. J. Ignacio Conde-Ruiz & Vincenzo Galasso, . "Positive Arithmetic of the Welfare State," Working Papers 2003-04, FEDEA.
  12. M.-L. Leroux & P. Pestieau, 2012. "The political economy of derived pension rights," International Tax and Public Finance, Springer, Springer, vol. 19(5), pages 753-776, October.
  13. LEROUX, Marie-Louise & PESTIEAU, Pierre & RACIONERO, Maria, . "Voting on pensions: sex and marriage," CORE Discussion Papers RP, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) -2308, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  14. J. Ignacio Conde-Ruiz & Vincenzo Galasso, 2003. "Early Retirement," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 6(1), pages 12-36, January.
  15. Florence Jaumotte, 2003. "Female Labour Force Participation: Past Trends and Main Determinants in OECD Countries," OECD Economics Department Working Papers 376, OECD Publishing.
  16. Bethencourt, Carlos & Galasso, Vincenzo, 2008. "Political complements in the welfare state: Health care and social security," Journal of Public Economics, Elsevier, Elsevier, vol. 92(3-4), pages 609-632, April.
  17. Panu Poutvaara, 2003. "On the Political Economy of Social Security and Public Education," Public Economics, EconWPA 0303001, EconWPA.
  18. CASAMATTA, Georges & CREMER, Helmuth & PESTIEAU, Pierre, . "Voting on pensions with endogenous retirement age," CORE Discussion Papers RP, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) -1754, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  19. J. Ignacio Conde-Ruiz & Vincenzo Galasso, . "The Macroeconomics of Early Retirement," Working Papers 2003-05, FEDEA.
  20. J. Ignacio Conde-Ruiz & Vincenzo Galasso, . "Early retirement," Working Papers 2003-03, FEDEA.
  21. J. Ignacio Conde-Ruiz & Paola Profeta, 2007. "The Redistributive Design of Social Security Systems," Working Papers 2007-07, FEDEA.
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