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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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.:
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- 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.
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- Homburg, Stefan & Richter, Wolfram, 1990. "Eine effizienzorientierte Reform der GRV," EconStor Open Access Articles, ZBW - German National Library of Economics, pages 183-191..
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