| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5929 |
| DP5929 Taxing Capital? Not a Bad Idea After All! | |
| Juan Carlos Conesa; Dirk Krueger; Sagiri Kitao | |
| 发表日期 | 2006-11-05 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | This paper studies the determination through majority voting of a pension scheme when society consists of far-sighted and myopic individuals. All individuals have the same basic preferences but myopics tend to adopt a short term view (instant gratification) when dealing with retirement saving. Consequently, they will find themselves with low consumption after retirement and regret their insufficient savings decisions. Henceforth, when voting they tend to commit themselves into forced saving. We consider a pension scheme that is characterized by two parameters: the payroll tax rate (that determines the size or generosity of the system) and the 'Bismarckian factor' that determines its redistributiveness. Individuals vote sequentially. We examine how the introduction of myopic agents affects the generosity and the redistributiveness of the pension system. Our main result is that a flat pension system is always chosen when all individuals are of one kind (all far-sighted or all myopic), while a less redistributive system may be chosen if society is composed of both myopic and far-sighted agents. Furthermore, while myopic individuals tend to prefer larger payroll taxes than their far-sighted counterparts, the generosity of the system does not always increase with the proportion of myopics. |
| 主题 | Public Economics |
| 关键词 | Social security Myopia Dual-self model |
| URL | https://cepr.org/publications/dp5929 |
| 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/534760 |
| 推荐引用方式 GB/T 7714 | Juan Carlos Conesa,Dirk Krueger,Sagiri Kitao. DP5929 Taxing Capital? Not a Bad Idea After All!. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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