Social security and foreign indebtedness in a small open economy

Søren Nielsen

Open Economies Review, 1994, vol. 5, issue 1, 47-63

Abstract: This paper investigates the consequences of changes in a small open economy's unfunded social security system for its net foreign asset position. We apply Blanchard's finite horizon framework and show how an increase in the social security system's benefit rate is likely to lead to foreign indebtedness, even when induced retirement is allowed for. Copyright Kluwer Academic Publishers 1994

Keywords: social security; pensions; foreign indebtedness (search for similar items in EconPapers)
Date: 1994
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DOI: 10.1007/BF01000744

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