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Viability of Pay-As-You-Go pension systems: a demand side perspective

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  • Aldo Barba

Abstract

We analyse the effects that changes in the scale of public pension systems may exert on production and employment when there is some unused productive capacity, and income distribution results from workers' and capitalists' inconsistent claims on output shares. The essay calls attention to the way in which pension schemes, functional income distribution, and the principle of effective demand interact in the short run.

Suggested Citation

  • Aldo Barba, 2006. "Viability of Pay-As-You-Go pension systems: a demand side perspective," Review of Political Economy, Taylor & Francis Journals, vol. 18(3), pages 413-425.
    • Handle: RePEc:taf:revpoe:v:18:y:2006:i:3:p:413-425
    DOI: 10.1080/09538250600797966
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    References listed on IDEAS

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    1. Christian E. Weller, 2004. "The future of public pensions in the OECD," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 28(4), pages 489-504, July.
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    3. Tracy Mott & Edward Slattery, 1994. "Tax Incidence and Macroeconomic Effects in a Kaleckian Model When Profits Finance Affects Investment and Prices May Respond to Taxes," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 16(3), pages 391-409, April.
    4. Martin Feldstein, 2005. "Rethinking Social Insurance," American Economic Review, American Economic Association, vol. 95(1), pages 1-24, March.
    5. Antonella Stirati, 2001. "Inflation, Unemployment and Hysteresis: An alternative view," Review of Political Economy, Taylor & Francis Journals, vol. 13(4), pages 427-451.
    6. Nicholas Sarantis, 1990. "Distribution and Terms of Trade Dynamics, Inflation, and Growth," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 13(2), pages 175-198, December.
    7. Tito Boeri & Axel Boersch-Supan & Guido Tabellini, 2002. "Pension Reforms and the Opinions of European Citizens," American Economic Review, American Economic Association, vol. 92(2), pages 396-401, May.
    8. Robert A. Blecker, 1998. "International Competitiveness, Relative Wages, and the Balance-Of-Payments Constraint," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 20(4), pages 495-526, July.
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