Pareto efficiency of the pay-as-you-go pension system in a three-period-OLG model
AbstractThe paper considers an unfunded linear pension system when workers make labor decisions more often than once in their life. To capture this feature, a three-period-overlapping-generations model is employed. On the one hand, the paper analyzes whether or not a Pay-as-you-go pension scheme is intergenerational Pareto efficient when labor is elastically supplied by the young and the middle-aged people. On the other hand, the focus is on the interregional efficiency of a Pay-as-you-go system when young and middle-aged workers are mobile. --
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Bibliographic InfoPaper provided by Bamberg University, Bamberg Economic Research Group in its series BERG Working Paper Series with number 27.
Date of creation: 1998
Date of revision:
pay-as-you-go pension system; overlapping-generations model; intergenerational fairness; labor mobility;
Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
- J61 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Geographic Labor Mobility; Immigrant Workers
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