Public Pensions and Growth
This paper studies the short- and long-run effects of pay-as-you-go financed public pensions on productivity growth and discusses the possibility of a Pareto-improving reform. It shows that a reduction of those intergenerational transfers that are inherent in the leads to a permanent increase in productivity growth, a Pareto-improvement does not result. Yet, there is scope for a Pareto-improving public pension reform. Such a reform implies distributing public pension revenues in the form of savings subsidies rather that as lump-sum pension benefits.
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Volume (Year): 56 (1999)
Issue (Month): 2 (June)
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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.:
- BELAN, Pascal & PESTIEAU, Pierre, 1997.
"Privatizing social security: a critical assessment,"
CORE Discussion Papers
1997084, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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- BELAN, Pascal & PESTIEAU, Pierre, . "Privatizing social security: A critical assessment," CORE Discussion Papers RP 1407, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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- Marchand, Maurice & Michel, Philippe & Pestieau, Pierre, 1996.
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European Journal of Political Economy,
Elsevier, vol. 12(1), pages 33-48, April.
- Marchand, M. & Michel, P. & Pestieau, P., . "Intergenerational transfers in an endogenous growth model with fertility changes," CORE Discussion Papers RP 1229, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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"Increasing Returns and Long-run Growth,"
Journal of Political Economy,
University of Chicago Press, vol. 94(5), pages 1002-37, October.
- Gilles Saint-Paul, 1992. "Fiscal Policy in an Endogenous Growth Model," The Quarterly Journal of Economics, Oxford University Press, vol. 107(4), pages 1243-1259.
- BELAN, Pascal & MICHEL, Philippe & PESTIEAU, Pierre, 1996. "Pareto improving social security reform with endogenous growth," CORE Discussion Papers 1996057, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Breyer, Friedrich & Straub, Martin, 1991.
"Welfare effects of unfunded pension systems when labor supply is endogenous,"
Discussion Papers, Series I
252, University of Konstanz, Department of Economics.
- Breyer, Friedrich & Straub, Martin, 1993. "Welfare effects of unfunded pension systems when labor supply is endogenous," Journal of Public Economics, Elsevier, vol. 50(1), pages 77-91, January.
- Caballero, Ricardo J. & Lyons, Richard K., 1990. "Internal versus external economies in European industry," European Economic Review, Elsevier, vol. 34(4), pages 805-826, June.
- King, Ian & Ferguson, Don, 1993. "Dynamic inefficiency, endogenous growth, and Ponzi games," Journal of Monetary Economics, Elsevier, vol. 32(1), pages 79-104, August.
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"The Efficiency of Unfunded Pension Schemes,"
EconStor Open Access Articles,
ZBW - German National Library of Economics, pages 640-647.
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