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Social security reform and the support for public education

  • Iñigo Iturbe-Ormaetxe

    ()

  • Guadalupe Valera

The provision of pensions for the old and public education for the young represent a large share of public budgets. In most Western countries, current Social Security systems are under a big financial stress. Several reforms have been proposed to solve this problem. This paper deals with the impact that some of these reforms have, through a political process, on publicly financed education. We develop a model linking both public transfer schemes, in which heterogeneous individuals vote the educational tax. Our findings show that most of the proposals that entail a partial privatization of the pension system have a negative impact on public education and, thus, on economic growth.

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File URL: http://hdl.handle.net/10.1007/s00148-010-0338-4
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Article provided by Springer in its journal Journal of Population Economics.

Volume (Year): 25 (2012)
Issue (Month): 2 (January)
Pages: 609-634

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Handle: RePEc:spr:jopoec:v:25:y:2012:i:2:p:609-634
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  1. Kaganovich, Michael & Zilcha, Itzhak, 1999. "Education, social security, and growth," Journal of Public Economics, Elsevier, vol. 71(2), pages 289-309, February.
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  17. Michele Boldrin & Ana Montes, 2004. "The intergenerational state: education and pensions," Staff Report 336, Federal Reserve Bank of Minneapolis.
  18. Immervoll, Herwig & Kleven, Henrik Jacobsen & Kreiner, Claus Thustrup & Saez, Emmanuel, 2004. "Welfare reform in European countries: a micro-simulation analysis," EUROMOD Working Papers EM1/04, EUROMOD at the Institute for Social and Economic Research.
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  22. Thomas F. Cooley & Jorge Soares, 1999. "A Positive Theory of Social Security Based on Reputation," Journal of Political Economy, University of Chicago Press, vol. 107(1), pages 135-160, February.
  23. Assar Lindbeck & Mats Persson, 2003. "The Gains from Pension Reform," Journal of Economic Literature, American Economic Association, vol. 41(1), pages 74-112, March.
  24. Emmanuel Saez, 2002. "Optimal Income Transfer Programs: Intensive Versus Extensive Labor Supply Responses," The Quarterly Journal of Economics, MIT Press, vol. 117(3), pages 1039-1073, August.
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  28. Konrad, Kai A, 1995. "Social Security and Strategic Inter-vivos Transfers of Social Capital," Journal of Population Economics, Springer, vol. 8(3), pages 315-26, August.
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