| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1756 |
| DP1756 The Sources of Irish Growth | |
| Xavier Vives; Angel de la Fuente | |
| 发表日期 | 1997-12-19 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | In an analysis of the risk-sharing properties of different types of pension systems, we show that only fixed-fee pay-as-you-go (PAYG) pension systems can provide risk sharing for living individuals. Under some circumstances, however, other PAYG pension systems can enhance the expected welfare of all generations by reducing intergenerational income variability. The paper derives conditions for this to occur. It also analyses the stability of actuarially fair PAYG pension systems. It is shown that if an actuarially fair pension with a non-balanced budget system is dynamically stable, its accumulated surpluses will converge to the same fund as in a fully funded system. The paper also shows that the welfare loss due to labour market distortions will, in fact, increase if the implicit marginal return in a compulsary system is raised above the average return. |
| 关键词 | Intergenerational Pay-as-you-go Pension systems |
| URL | https://cepr.org/publications/dp1756 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530900 |
| 推荐引用方式 GB/T 7714 | Xavier Vives,Angel de la Fuente. DP1756 The Sources of Irish Growth. 1997. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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