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Unfunded Public Pension System in the Presence of Perfect Household Mobility

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  • Ulrich Hange

Abstract

In this paper we investigate the effects of unfunded public pension schemes in a small open economy with land where young households are perfectly mobile. The burden of the intergenerational transfer system is entirely borne by members of the old generation. The incidence, however, varies with the policy pursued by the government. If it levies a constant contribution, the transfer recipients as well as the landowners carry the burden. In the case of a constant pension payment the whole loss is shifted to the owners of the immobile factor land. Furthermore, this policy may be inapplicable in the long run.

Suggested Citation

  • Ulrich Hange, 2000. "Unfunded Public Pension System in the Presence of Perfect Household Mobility," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 57(1), pages 1-77, September.
  • Handle: RePEc:mhr:finarc:urn:sici:0015-2218(200009)57:1_77:uppsit_2.0.tx_2-g
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    References listed on IDEAS

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    1. Wellisch, Dietmar & Richter, Wolfram F., 1995. "Internalizing intergenerational externalities by regionalization," Regional Science and Urban Economics, Elsevier, vol. 25(6), pages 685-704, December.
    2. Bradford, David F., 1978. "Factor prices may be constant but factor returns are not," Economics Letters, Elsevier, vol. 1(3), pages 199-203.
    3. Homburg, Stefan, 1988. "Theorie der Alterssicherung," EconStor Books, ZBW - German National Library of Economics, number 92902, March.
    4. Sinn, Hans-Werner, 1994. "How Much Europe? Subsidiarity, Centralization and Fiscal Competition," Scottish Journal of Political Economy, Scottish Economic Society, vol. 41(1), pages 85-107, February.
    5. Wellisch,Dietmar, 2000. "Theory of Public Finance in a Federal State," Cambridge Books, Cambridge University Press, number 9780521630351, May.
    6. Wellisch, Dietmar & Wildasin, David E., 1996. "Decentralized income redistribution and immigration," European Economic Review, Elsevier, vol. 40(1), pages 187-217, January.
    7. Stefan Homburg & Wolfram Richter, 1993. "Harmonizing public debt and public pension schemes in the European community," Journal of Economics, Springer, vol. 7(1), pages 51-63, December.
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    Cited by:

    1. Tim Krieger, 2001. "Intergenerational Redistribution and Labor Mobility: A Survey," FinanzArchiv: Public Finance Analysis, Mohr Siebeck, Tübingen, vol. 58(3), pages 339-339, July.
    2. Igor Fedotenkov & Lex Meijdam, 2014. "Pension reform with migration and mobile capital: is a Pareto improvement possible?," International Economics and Economic Policy, Springer, vol. 11(3), pages 431-450, September.

    More about this item

    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population

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