PAYG pension systems with capital mobility
Résumé
This paper studies the design of an optimal pension scheme in an OLG and open economy model. The pension scheme provides a flat rate benefit and is based on the PAYG principle. It thus combines inter- and intra-generational redistribution. In this setting a number of symmetric economies are connected by an open and perfect capital market. When this number is very large, we have the small open economy case; when it is reduced to one, we have the case of autarky or perfect coordination. As the number of countries increases, there is more intragenerational redistribution, but less capital accumulation.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
PAYG pension systems with capital mobility
|
Résumé |
en
This paper studies the design of an optimal pension scheme in an OLG and open economy model. The pension scheme provides a flat rate benefit and is based on the PAYG principle. It thus combines inter- and intra-generational redistribution. In this setting a number of symmetric economies are connected by an open and perfect capital market. When this number is very large, we have the small open economy case; when it is reduced to one, we have the case of autarky or perfect coordination. As the number of countries increases, there is more intragenerational redistribution, but less capital accumulation.
|
Auteur(s) |
Pierre Pestieau
1, 2, 3, 4
, Gwanaël Piaser
3, 5
, Motohiro Sato
6
1
PJSE -
Paris-Jourdan Sciences Economiques
( 1312 )
- 48 boulevard Jourdan 75014 Paris
- France
2
CREPP -
Center of Research in Public Economics and Population Economics
( 143557 )
- Belgique
3
CORE -
Center of Operation Research and Econometrics [Louvain]
( 48233 )
- 34, Voie du Roman Pays B-1348 Louvain-la-Neuve
- Belgique
4
CEPR -
Center for Economic Policy Research
( 143559 )
- Royaume-Uni
5
University of Ca’ Foscari [Venice, Italy]
( 461222 )
- Dorsoduro, 3246, 30123 Venice, Italy
Universita di Venezia - Ca' Foscari
- Italie
6
Hitotsubashi University
( 215902 )
- Japon
|
Comité de lecture |
Oui
|
Vulgarisation |
Non
|
Langue du document |
Anglais
|
Nom de la revue |
|
Audience |
Non spécifiée
|
Date de publication |
2006-10
|
Volume |
13
|
Numéro |
5
|
Page/Identifiant |
587-599
|
Domaine(s) |
|
Mots-clés (JEL) |
|
DOI | 10.1007/s10797-006-6079-3 |
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