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Пенсионная Реформа И Межпоколенческий Альтруизм В Моделях Экономической Динамики
[Pension reform and intergenerational altruism in economic dynamics models]

Author

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  • Surkov, Alexander

Abstract

A complexity of a pension reform realization in a country with high level of intergenerational altruism is considered as a reason of a failure of the pension reform in Russia. Differences between intergenerational altruism levels in Russia and more modernized western countries are discussed. Overlapping generations models with two-way intergenerational altruism and pension system are analyzed. Successful transition from pay-as-you go pension system to fully funded one is shown to be possible in a modernized society with low level of intergenerational altruism and stable economy. But, even in that case the issue of the transition costs, their volume and distribution remains essential.

Suggested Citation

  • Surkov, Alexander, 2009. "Пенсионная Реформа И Межпоколенческий Альтруизм В Моделях Экономической Динамики
    [Pension reform and intergenerational altruism in economic dynamics models]    ," MPRA Paper 27632, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:27632
    as

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    File URL: https://mpra.ub.uni-muenchen.de/27632/1/MPRA_paper_27632.pdf
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    References listed on IDEAS

    as
    1. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
    2. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467-467.
    3. Altonji, Joseph G & Hayashi, Fumio & Kotlikoff, Laurence J, 1992. "Is the Extended Family Altruistically Linked? Direct Tests Using Micro Data," American Economic Review, American Economic Association, vol. 82(5), pages 1177-1198, December.
    4. Modigliani,Franco & Muralidhar,Arun, 2005. "Rethinking Pension Reform," Cambridge Books, Cambridge University Press, number 9780521676533.
    5. Michel, Philippe & Thibault, Emmanuel & Vidal, Jean-Pierre, 2006. "Intergenerational altruism and neoclassical growth models," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier.
    6. Arrondel, Luc & Masson, Andre, 2006. "Altruism, exchange or indirect reciprocity: what do the data on family transfers show?," Handbook on the Economics of Giving, Reciprocity and Altruism, Elsevier.
    7. Laurence J. Kotlikoff & John N. Morris, 1989. "How Much Care Do the Aged Receive from Their Children? A Bimodal Picture of Contact and Assistance," NBER Chapters,in: The Economics of Aging, pages 151-176 National Bureau of Economic Research, Inc.
    8. Kotlikoff, Laurence J, 1988. "Intergenerational Transfers and Savings," Journal of Economic Perspectives, American Economic Association, vol. 2(2), pages 41-58, Spring.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    pension system; pension reform; fully funded pension system; pay-as-you-go pension system; intergenerational transfers; intergenerational altruism; overlapping generations;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • D64 - Microeconomics - - Welfare Economics - - - Altruism; Philanthropy; Intergenerational Transfers
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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