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Pension Reform in Brazil: Transitional Issues in a Model with Endogenous Labor Supply

Author

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  • Sergio G. Ferreira

    (IBMEC Business School - Rio de Janeiro)

Abstract

Brazilian PAYG system has been under financial stress and needs to be reformed. I use a computational general equilibrium model, with 55 overlapping generations to simulate macroeconomic and welfare impacts of alternative social security reforms. Transition turns out to have quite different redistributional effects for the generations involved depending on which tax is used to finance it. Under a variety of possible transitional schemes, there is no tax path that is strictly preferred by every generation.

Suggested Citation

  • Sergio G. Ferreira, 2005. "Pension Reform in Brazil: Transitional Issues in a Model with Endogenous Labor Supply," IBMEC RJ Economics Discussion Papers 2005-02, Economics Research Group, IBMEC Business School - Rio de Janeiro.
    • Handle: RePEc:ibr:dpaper:2005-02
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    File URL: http://professores.ibmecrj.br/erg/dp/papers/dp200502.pdf
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    Cited by:

    1. Glomm, Gerhard & Jung, Juergen & Tran, Chung, 2009. "Macroeconomic implications of early retirement in the public sector: The case of Brazil," Journal of Economic Dynamics and Control, Elsevier, vol. 33(4), pages 777-797, April.
    2. Jung, Juergen & Tran, Chung, 2012. "The extension of social security coverage in developing countries," Journal of Development Economics, Elsevier, vol. 99(2), pages 439-458.
    3. Çagaçan Deger, 2008. "Pension Reform in an OLG Model with Multiple Social Security Systems," ERC Working Papers 0805, ERC - Economic Research Center, Middle East Technical University, revised Oct 2008.
    4. Bagis, Bilal, 2017. "Macroeconomic Implications of Changes in Social Security Rules," MPRA Paper 84051, University Library of Munich, Germany.
    5. Gerhard Glomm & Juergen Jung & Changmin Lee & Chung Tran, 2009. "Public Sector Pension Policies and Capital Accumulation in Emerging Economies," Discussion Papers 2009-10, School of Economics, The University of New South Wales.

    More about this item

    Keywords

    Social Security; Welfare; General Equilibrium; Macroeconomics; Overlapping Generation;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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