G2TT
来源类型Discussion paper
规范类型论文
来源IDDP11978
DP11978 Population Aging, Social Security and Fiscal Limits
Michael R. Wickens
发表日期2017-04-21
出版年2017
语种英语
摘要We study the sustainability of pension systems using a life-cycle model with distortionary taxation that sets an upper limit to the real value of tax revenues. This limit implies an endogenous threshold dependency ratio, i.e. a point in the cross-section distribution of the population beyond which tax revenues can no longer sustain the planned level of transfers to retirees. We quantify the threshold using a computable life-cycle model calibrated on the United States and on 14 European countries which have dependency ratios among the highest in the world. We examine the effects on the threshold and welfare of a number of policies often advocated to improve the sustainability of pension systems. New tax data on dynamic Laffer effects are provided.
主题Macroeconomics and Growth ; Public Economics
关键词Pensions Dependency ratio Fiscal space Laffer effects
URLhttps://cepr.org/publications/dp11978
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/540790
推荐引用方式
GB/T 7714
Michael R. Wickens. DP11978 Population Aging, Social Security and Fiscal Limits. 2017.
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