The Demographic Challenge of the Interconnected Education and Pension System in the Czech Republic
In their recent paper, Boldrin and Montes (2005) analyzed the “return on human capital investment” theory and showed that if borrowing for education is not possible, then a combined public education and pension system that uses lump-sum revenue from taxes and income transfers can replicate the first-best decentralized allocation achieved in an economy without taxes, where borrowing for human-capital accumulation (education) is permitted. Taking into account that such borrowing is either absent or inefficient in many countries, a combined public education/public pension scheme might prove to be welfare enhancing. Guided by this theoretical framework, the authors calibrate the parameters of an interconnected pension and education system for the Czech Republic under different demographic scenarios and fiscal rules. They also model the impact of increases in the retirement age and of a hypothetical unbalancing of pensions or educational transfers.
Volume (Year): 56 (2006)
Issue (Month): 11-12 (November)
|Contact details of provider:|| Postal: Opletalova 26, CZ-110 00 Prague|
Phone: +420 2 222112330
Fax: +420 2 22112304
Web page: http://ies.fsv.cuni.cz/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Boldrin, Michele & Montes, Ana, 2002.
"The Intergenerational State: Education and Pensions,"
CEPR Discussion Papers
3275, C.E.P.R. Discussion Papers.
- Michele Boldrin & Ana Montes, 2005. "The Intergenerational State Education and Pensions," Review of Economic Studies, Oxford University Press, vol. 72(3), pages 651-664.
- Michele Boldrin & Ana Montes, 2004. "The intergenerational state: education and pensions," Staff Report 336, Federal Reserve Bank of Minneapolis.
- Saint-Paul, Gilles & Verdier, Thierry, 1993.
"Education, democracy and growth,"
Journal of Development Economics,
Elsevier, vol. 42(2), pages 399-407, December.
When requesting a correction, please mention this item's handle: RePEc:fau:fauart:v:56:y:2006:i:11-12:p:490-505. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lenka Herrmannova)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.