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Pension Reforms, Assets Returns and Wealth Distribution

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  • Falilou Fall

Abstract

Does a pension reform exacerbate inequality in modern economies? We show that the PAYg system generates more inequality and decreases the interest rate. Our paper points out the importance of the heterogeneity of assets earnings and the unequal access that individuals have to them. In this context, the PAYg pension system generates more constrained-poor agents and a lower interest rate. The rich agents benefit from the reform at the expense of poor agents.

Suggested Citation

  • Falilou Fall, 2007. "Pension Reforms, Assets Returns and Wealth Distribution," Annals of Economics and Statistics, GENES, issue 85, pages 81-96.
    • Handle: RePEc:adr:anecst:y:2007:i:85:p:81-96
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    File URL: http://www.jstor.org/stable/20079180
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    2. Amal Abdellatif & Maryam Aldossari & Ilaria Boncori & Jamie Callahan & Uracha Chatrakul Na Ayudhya & Sara Chaudhry & Nina Kivinen & Shan‐Jan Sarah Liu & Ea Høg Utoft & Natalia Vershinina & Emily Yarro, 2021. "Breaking the mold: Working through our differences to vocalize the sound of change," Gender, Work and Organization, Wiley Blackwell, vol. 28(5), pages 1956-1979, September.

    More about this item

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • H24 - Public Economics - - Taxation, Subsidies, and Revenue - - - Personal Income and Other Nonbusiness Taxes and Subsidies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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