Public Pensions and Growth

Berthold Wigger ()

FinanzArchiv: Public Finance Analysis, 1999, vol. 56, issue 2, 241-

Abstract: This paper studies the short- and long-run effects of pay-as-you-go financed public pensions on productivity growth and discusses the possibility of a Pareto-improving reform. It shows that a reduction of those intergenerational transfers that are inherent in the leads to a permanent increase in productivity growth, a Pareto-improvement does not result. Yet, there is scope for a Pareto-improving public pension reform. Such a reform implies distributing public pension revenues in the form of savings subsidies rather that as lump-sum pension benefits.

Date: 1999
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