[Pension Reforming——The Dilemma between Efficiency and Fairnes]
AbstractThis paper uses an OLG model to analyze the dilemma between efficiency and fairness, and then give a numerical simulation for China’s reform practice in pension system with Chinese data.Results showed that :1)Compared to efficiency and fair distribution, partial full-funded syste- m was better than full-funded system, and worse than pay-as-you-go system.2)Based on the situat- ion of China ,it is reasonable to choose and keep partial full-funded system. Labor production is t- he key factor in improving efficiency and fair distribution,more investment was needed to improve human capital,and the school education and vocational education also need to pay more attention.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 49579.
Date of creation: 05 Jan 2013
Date of revision: 23 Jul 2013
Pension; Efficiency; Fairness; Pension Reform;
Find related papers by JEL classification:
- G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- I38 - Health, Education, and Welfare - - Welfare and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
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- Brunner, Johann K., 1993. "Redistribution and the efficiency of the pay-as-you-go pension system," Discussion Papers, Series 1 265, University of Konstanz, Department of Economics.
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