Working Paper Series
Pensions and Contemporary Socioeconomic Change
Abstract: The paper discusses the consequences for the functioning
of different pension systems of various types of socioeconomic changes,
mainly demographic developments, variations in productivity growth and
changes in real interest rates. Two of the pension systems have exogenous
and four have endogenous contributions rates. I analyze both marginal and
radical pension reforms for the purpose of making pension systems more
stable, avoiding arbitrary redistributions between generations and dealing
with increased heterogeneity of the population in terms of family structure
and international mobility. The advantages of combining PAYGO and
actuarially fair systems are pointed out.
Keywords: Pension Reforms; Social Economic Change; Redistribution among Generations; (follow links to similar papers)
JEL-Codes: H55; (follow links to similar papers)
32 pages, February 21, 2001
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