Growth and equality effects of pension plans
We investigate the balanced growth effects of pension plans on the rate of growth and on equalityin a closed economy where individual decisions about education are the engine of growth. We distinguish between pay-as-you-go and fully-funded pension systems and differentiate between three different benefit rules: a Beveridgean one (benefits are identical for all agents), a Bismarckian (earnings related) one depending on one's entire earnings history or a Bismarckian one depending on one's partial earnings history. Interestingly, in the latter case the steady state rate of growth is increasing in the rate of contributions.
|Date of creation:||00 Jul 2000|
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"Education, social security, and growth,"
Journal of Public Economics,
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- DOCQUIER, Frédéric & MICHEL, Philippe, 1994. "Education Subsidies and Endogenous Growth : Implications of Demographic Shocks," CORE Discussion Papers 1994052, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). Full references (including those not matched with items on IDEAS)
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