Le débat Samuelson-Lerner et les régimes de retraite publics

Louis Ascah
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Louis Ascah: Université de Sherbrooke

L'Actualité Economique, 1978, vol. 54, issue 4, 521-530

Abstract: This article reviews the Samuelson-Lerner debate and its implications for the design of public pension plans. Pay-as-you-go public pension plans can provide a fictitious rate of interest equal to the rate of growth of the economy. The conclusion that pay-as-you-go financing provides greater welfare than a funded plan when the rate of growth is greater than the rate of return and vice-versa holds only in a steady state and pension policy should not be based on artificial worlds which can never exist.

Date: 1978
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Persistent link: https://EconPapers.repec.org/RePEc:ris:actuec:v:54:y:1978:i:4:p:521-530

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