Welfare effects of unfunded pension systems when labor supply is endogenous
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| Type of Publication: | Journal article |
| Publication status: | Published |
| Author: | Breyer, Friedrich; Straub, Martin |
| Year of publication: | 1993 |
| Published in: | Journal of Public Economics ; 50 (1993), 1. - pp. 77-91. - ISSN 0047-2727. - eISSN 1879-2316 |
| DOI (citable link): | https://dx.doi.org/10.1016/0047-2727(93)90061-W |
| Summary: |
A mandatory unfunded pension system can lead to welfare losses if the contributions are levied in such a way that the labor supply decision of the individuals is distorted. This is shown in an overlapping-generations model for a closed economy. Furthermore, it is shown that under certain conditions a gradual abolition of unfuded pensions — using lump-sum contributions in the transition phase — can lead to an intergenerational Pareto improvement. Thus the paper extends a result recently derived by Homburg for a small open economy to the closed economy case.
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| Subject (DDC): | 330 Economics |
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BREYER, Friedrich, Martin STRAUB, 1993. Welfare effects of unfunded pension systems when labor supply is endogenous. In: Journal of Public Economics. 50(1), pp. 77-91. ISSN 0047-2727. eISSN 1879-2316. Available under: doi: 10.1016/0047-2727(93)90061-W
@article{Breyer1993Welfa-33366, title={Welfare effects of unfunded pension systems when labor supply is endogenous}, year={1993}, doi={10.1016/0047-2727(93)90061-W}, number={1}, volume={50}, issn={0047-2727}, journal={Journal of Public Economics}, pages={77--91}, author={Breyer, Friedrich and Straub, Martin} }
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