| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11978 |
| 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 |
| URL | https://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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