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Marital Status and Derived Pension Rights: A Political Economy Model of Public Pensions with Borrowing Constraints

  • Tetsuo Ono

    ()

    (Graduate School of Economics, Osaka University)

This paper develops an overlapping-generation model featuring four types of households: single female, single male, one-breadwinner couple and two-breadwinner couple. The paper considers majority voting over public pension in the presence of derived pension rights for one-breadwinner couples. In an economy with a low in- tertemporal elasticity of substitution, borrowing-constrained one-breadwinner cou- ples may prefer a lower tax rate than do other types of households, although the for- mer attain a higher benefit-to-cost ratio of public pension than do others. Changes in the gender wage gap, the level of derived pension rights, and the fraction of two- breadwinner couples produce an inverse U-shaped relationship between the relevant variable and the tax rate.

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File URL: http://www2.econ.osaka-u.ac.jp/library/global/dp/1132R2.pdf
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Paper provided by Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP) in its series Discussion Papers in Economics and Business with number 11-32-Rev.2.

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Length: 37 pages
Date of creation: Nov 2011
Date of revision: Jan 2013
Handle: RePEc:osk:wpaper:1132r2
Contact details of provider: Web page: http://www2.econ.osaka-u.ac.jp/library/global/e_HP/e_g_shiryo.html
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  1. Helmuth Cremer & Philippe De Donder & Dario Maldonado & Pierre Pestieau, 2007. "Voting over type and generosity of a pension system when some individuals are myopic," NBER Chapters, in: Trans-Atlantic Public Economics Seminar (TAPES), Public Policy and Retirement, pages 2041-2061 National Bureau of Economic Research, Inc.
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  3. Casey B. Mulligan & Xavier Sala-i-Martin, 1999. "Social Security in Theory and Practice (I): Facts and Political Theories," NBER Working Papers 7118, National Bureau of Economic Research, Inc.
  4. Florence Jaumotte, 2003. "Female Labour Force Participation: Past Trends and Main Determinants in OECD Countries," OECD Economics Department Working Papers 376, OECD Publishing.
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  6. Casamatta, Georges & Cremer, Helmuth & Pestieau, Pierre, 2003. "Voting on Pensions with Endogenous Retirement Age," CEPR Discussion Papers 3778, C.E.P.R. Discussion Papers.
  7. LEROUX, Marie-Louise & PESTIEAU, Pierre & RACIONERO, Maria, . "Voting on pensions: sex and marriage," CORE Discussion Papers RP 2308, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  8. Bethencourt, Carlos & Galasso, Vincenzo, 2008. "Political complements in the welfare state: Health care and social security," Journal of Public Economics, Elsevier, vol. 92(3-4), pages 609-632, April.
  9. J. Ignacio Conde-Ruiz & Vincenzo Galasso, . "Early retirement," Working Papers 2003-03, FEDEA.
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  15. Casamatta, Georges & Cremer, Helmuth & Pestieau, Pierre, 2000. " The Political Economy of Social Security," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(3), pages 503-22, June.
  16. J. Ignacio Conde-Ruiz & Paola Profeta, 2007. "The Redistributive Design of Social Security Systems," Working Papers 2007-07, FEDEA.
  17. Diamond, P. A. & Hausman, J. A., 1984. "Individual retirement and savings behavior," Journal of Public Economics, Elsevier, vol. 23(1-2), pages 81-114.
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