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Trade And Pension Systems


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  • Bartholomae, Florian W.


This article concentrates on the possible relationship between trade and pension systems. I consider trade between a capital-abundant home and a labor-abundant foreign country. The underlying model is a two-period overlapping generations-model augmented with factor-price changes resulting from price-variations through globalization. First, I analyze the resulting income effects of the young generation and of the retirees in a pay-as-you-go (PAYG) pension system and a fully funded pension system. Considering contribution rates and population growth, the retirees might improve their income situation in a fully funded system. Second, I analyze the effects on life income when a pension system change is implemented simultaneous with the reduction of trade barriers. A less expensive change can be expected, if free trade is permitted. -- Dieser Aufsatz versucht einen Zusammenhang zwischen Handelsbeziehungen und dem Rentensystem herzustellen. Untersucht wird dabei der Handel zwischen einem kapitalreichen Inland und einem arbeitsreichen Ausland in einem zweiperiodigen OLG-Model, erweitert durch handelsinduzierte Preisänderungen. Es gibt dabei Auswirkungen auf das Einkommen der jungen sowie der in Rente befindlichen Generation im Umlageverfahren (UV), sowie im kapitalgedecktem Rentensystem (KDV). Während das Einkommen der Rentner im UV teilweise vom Faktor Arbeit abhängt, der durch die Handelsaufnahme verliert, besteht es im KDV lediglich aus Kapital, das durch die Liberalisierung gewinnt. Zieht man das Bevölkerungswachstum mit ins Kalkül, so können sich die Rentner im KDV besser als im UV stellen. Im zweiten Teil wird untersucht, inwieweit ein Umstieg vom UV auf das KDV durch Handelsliberalisierungen erleichtert werden kann.

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Paper provided by Universität der Bundeswehr München, Economic Research Group in its series Working Papers in Economics with number 2006,1.

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Date of creation: 2006
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Handle: RePEc:zbw:ubwwpe:20061

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Keywords: Umlageverfahren; Kapitalgedecktes Rentensystem; Heckscher-Ohlin-Samuelson; Handel mit Niedrig-Lohn-Ländern; Pay-as-you-go pension system; fully funded pension system; Heckscher-Ohlin-Samuelson; trade with low-wage-countries;

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  1. Axel Börsch-Supan & Alexander Ludwig & Joachim Winter, 2004. "Aging, Pension Reform, and Capital Flows: A Multi-Country Simulation Model," MEA discussion paper series, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy 04064, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  2. Browning, Edgar K, 1975. "Why the Social Insurance Budget Is Too Large in a Democracy," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 13(3), pages 373-88, September.
  3. Feldstein, Martin & Horioka, Charles, 1980. "Domestic Saving and International Capital Flows," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 90(358), pages 314-29, June.
  4. Hans-Werner Sinn, 1999. "Pension Reform and Demographic Crisis: Why a Funded System is Needed and why it is not Needed," CESifo Working Paper Series 195, CESifo Group Munich.
  5. Wellisch, Dietmar & Walz, Uwe, 1998. "Why do rich countries prefer free trade over free migration? The role of the modern welfare state," European Economic Review, Elsevier, Elsevier, vol. 42(8), pages 1595-1612, September.
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Cited by:
  1. Sell, Friedrich L., 2007. "More about economic and non-economic determinants of (mutual) trust and trustworthiness," Working Papers in Economics 2007,2, Universität der Bundeswehr München, Economic Research Group.


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