Pareto efficiency of the pay-as-you-go pension system in a three-period-OLG model
The paper considers an unfunded linear pension system when workers make labor decisions more often than once in their life. To capture this feature, a three-period-overlapping-generations model is employed. On the one hand, the paper analyzes whether or not a Pay-as-you-go pension scheme is intergenerational Pareto efficient when labor is elastically supplied by the young and the middle-aged people. On the other hand, the focus is on the interregional efficiency of a Pay-as-you-go system when young and middle-aged workers are mobile.
|Date of creation:||1998|
|Date of revision:|
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Web page: http://www.uni-bamberg.de/vwl/forschung/berg/
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- Sandmo, Agnar, 1987. "A Reinterpretation of Elasticity Formulae in Optimum Tax Theory," Economica, London School of Economics and Political Science, vol. 54(213), pages 89-96, February.
- Homburg, Stefan, 2014.
"The Efficiency of Unfunded Pension Schemes,"
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dp-523, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
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