Public pensions and take-off

Kazutoshi Miyazawa

Journal of Pension Economics and Finance, 2003, vol. 2, issue 1, 25-39

Abstract: This paper examines the effects of unfunded public pensions on national income, growth rate, and employment in a model à la Lucas (1988) consistent with the empirical finding in Schoeni (1997). Our model shows that a public pension system can lead to a take-off from a low growth trap to a higher growth equilibrium.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jpenef:v:2:y:2003:i:01:p:25-39_00

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