| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3758 |
| DP3758 Is Official Exchange Rate Intervention Effective? | |
| Mark Taylor | |
| 发表日期 | 2003-02-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | This Paper analyses the general equilibrium implications of reforming pay-as-you-go pension systems in an economy with heterogeneous agents, human capital investment and capital-skill complementarity. It shows that increasing funding in the long-run delivers higher physical and human capital and therefore higher output, but also higher wage and income inequality. The latter affects preferences over the degree of redistribution of the remaining pay-as-you-go component: despite the greater role that redistribution could perform in the new steady state, we find a preference for lower redistribution for a larger group of the population. |
| 主题 | Public Economics |
| 关键词 | Capital-skill complementarity Inter and intragenerational redistribution Pay-as-you-go Fully funded |
| URL | https://cepr.org/publications/dp3758 |
| 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/532764 |
| 推荐引用方式 GB/T 7714 | Mark Taylor. DP3758 Is Official Exchange Rate Intervention Effective?. 2003. |
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