Retraites, croissance et inégalités en présence d'individus myopes

Mohamed Bouzahzah, Frédéric Docquier and Oliver Paddison

Economie & Prévision, 2002, vol. 155, issue 4, 31-44

Abstract: This article discusses an endogenous growth model involving myopic agents. Like Feldstein (1985), we have assumed that the discount rates of the utility and future income of economic agents are multiplied by a myopia factor distributed uniformly over [0.1]. Within this framework, the creation of a pure pay-as-you-go system not only reduces growth but also inequalities within generations. In a period of stable growth, a funded system generally makes it possible to achieve the same fairness objectives while stimulating the growth rate. The article examines the possibility of switching from a pure pay-as-you-go system to pre-funding: the presence of myopic agents significantly raises the transition costs borne by the first generations.

Keywords: growth; inequalities; myopia; pensions; interlaced generations (search for similar items in EconPapers)
Date: 2002
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Journal Article: Retraites, croissance et inégalités en présence d'individus myopes (2002)
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