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Pension Reform in an Overlapping Model with Multiple Social Security Systems

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  • Cagacan DEGER

    () (Middle East Technical University, Faculty of Economics and Administrative Sciences, Department of Economics Title: Pension Reform in an Overlapping Model with Multiple Social Security Systems Abstract: Primarily due to financial sustainability problems, social security reforms have been on the policy agenda of both devel-oped and developing countries for the last decade. Turkish social security system has also been reformed from 1999 to 2008. One aim of this reform is the convergence of social security institutions through convergence of social security param-eters. The aim of this study is to analyze the effects of social security parameter convergence, through a replacement rate shock. Research literature on the subject tends to use over-lapping generations (OLG) models with single representative household and presents reforms as shock to the constructed model. In order to broadly represent the Turkish social security system, this study presents an OLG model with three separate social security institutions where the heterogeneity is through different benefit payments and contribution rates. Convergence across various institutions is enabled by a replacement ratio shock. This parametric reform is similar to the institution-al convergence aimed by the Turkish social security reform.The study concludes by discussing steady state results, model dynamics and implications on Turkish social security reform.)

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Suggested Citation

  • Cagacan DEGER, 2011. "Pension Reform in an Overlapping Model with Multiple Social Security Systems," Ege Academic Review, Ege University Faculty of Economics and Administrative Sciences, vol. 11(4), pages 563-572.
  • Handle: RePEc:ege:journl:v:11:y:2011:i:4:p:563-572
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    Cited by:

    1. Adem Yavuz Elveren, 2015. "The Impact of the Informal Employment on the Social Security Deficits in Turkey," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 1(1), pages 3-19, June.
    2. repec:aic:jopafl:y:2014:v:6:p:131-138 is not listed on IDEAS
    3. Du Cai Cai & Muysken Joan & Sleijpen Olaf, 2010. "Economy wide risk diversification in a three-pillar pension system," Research Memorandum 055, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).

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