Scandinavian Working Papers in Economics

Working Paper Series,
Research Institute of Industrial Economics

No 548: Pensions and Contemporary Socioeconomic Change

Assar Lindbeck ()
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Assar Lindbeck: The Research Institute of Industrial Economics, Postal: P.O. Box 55665, SE-102 15 Stockholm, Sweden

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

JEL-codes: H55

32 pages, February 21, 2001

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