Migration Challenge for PAYG

Gurgen Aslanyan

No 101, FIW Working Paper series from FIW

Abstract: Immigration has been popularised in the economics literature as a tool to balance the troubled PAYG pension systems. A pivotal research by Razin and Sadka showed that unskilled immigration can surmount the pension problem and, further, boost the general welfare in the host economy. However a large strand of current economics literature is engaged in identifying mechanisms through which unskilled immigration, while solving the pension problem, causes undesired shifts in general welfare. This work shows that actually recurring unskilled immigration may challenge the entire pension system and decrease the pension benefits themselves.

Keywords: Public Pensions; PAYG; Unskilled Migration (search for similar items in EconPapers)
JEL-codes: E61 F22 H55 J18 (search for similar items in EconPapers)
Pages: 16
Date: 2012-09
New Economics Papers: this item is included in nep-age, nep-dem and nep-mig
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Journal Article: The migration challenge for PAYG (2014)
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