PAYG pension systems with capital mobility

Abstract : 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.
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International Tax and Public Finance, Springer Verlag, 2006, 13 (5), pp.587-599. 〈10.1007/s10797-006-6079-3〉
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Soumis le : mardi 20 novembre 2012 - 08:44:29
Dernière modification le : mardi 24 avril 2018 - 17:20:09

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Pierre Pestieau, Gwanaël Piaser, Motohiro Sato. PAYG pension systems with capital mobility. International Tax and Public Finance, Springer Verlag, 2006, 13 (5), pp.587-599. 〈10.1007/s10797-006-6079-3〉. 〈halshs-00754127〉

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