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Pareto-improving social security reform


  • BELAN, Pascal
  • MICHEL, Philippe
  • PESTIEAU, Pierre


It is generally accepted that moving from an unfunded to a funded social security system implies a welfare loss for the transition generation—that is, the generation that has to pay twice: first, saving for its own retirement and, second, contributing to the pensions of the then retired generation. This article shows that in a setting of endogenous growth with positive externality such a transition can be Pareto improving. But it argues also that social security reform is more a pretext than a requirement for internalizing such a positive externality. The Geneva Papers on Risk and Insurance Theory (1998) 23, 119–125. doi:10.1023/A:1008622110502
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Suggested Citation

  • BELAN, Pascal & MICHEL, Philippe & PESTIEAU, Pierre, 1998. "Pareto-improving social security reform," CORE Discussion Papers RP 1372, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  • Handle: RePEc:cor:louvrp:1372 Note: In : The Geneva Papers on Risk and Insurance Theory, 23, 119-125, 1998

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    References listed on IDEAS

    1. Nicole Tabard, 1993. "Des quartiers pauvres aux banlieues aisées : une représentation sociale du territoire," Économie et Statistique, Programme National Persée, vol. 270(1), pages 5-22.
    2. Alberto F. Ades & Edward L. Glaeser, 1995. "Trade and Circuses: Explaining Urban Giants," The Quarterly Journal of Economics, Oxford University Press, vol. 110(1), pages 195-227.
    3. Gin, Alan & Sonstelie, Jon, 1992. "The streetcar and residential location in nineteenth century Philadelphia," Journal of Urban Economics, Elsevier, vol. 32(1), pages 92-107, July.
    4. Ingram, Gregory K. & Carroll, Alan, 1981. "The spatial structure of Latin American cities," Journal of Urban Economics, Elsevier, vol. 9(2), pages 257-273, March.
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