Viability of pay-as-you-go systems

Franck Maurin, Patrick Saint-Pierre, Jean-Pierre Aubin and l Bonneuil No ()
Additional contact information
Franck Maurin: Universit, de Paris Dauphine, place du Mar, chal de Lattre de Tassigny, 75016, Paris, France
Patrick Saint-Pierre: Universit, de Paris Dauphine, place du Mar, chal de Lattre de Tassigny, 75016, Paris, France
Jean-Pierre Aubin: Universit, de Paris Dauphine, place du Mar, chal de Lattre de Tassigny, 75016, Paris, France
l Bonneuil No: Institut national des , tudes d, mographiques, and , cole des hautes , tudes en sciences sociales, 133, bld Davout, 75980 Paris Cedex 20, France

Journal of Evolutionary Economics, 2001, vol. 11, issue 5, 555-571

Abstract: When the dependency ratio inactive/active increases to intolerable proportions, the question arises as to how and when pay-as-you-go social security systems can be controlled so as to safeguard a decent way of life to everyone. Between uncertainty linked to wages and the interest rate, and room to manœuvre the age of retirement and the immediate transfer from workers to pensioners, not just any route permits this objective. The set of those which do is here delineated (the viability kernel tube), and the operations at any time necessary to control trajectories so as they remain in this set are identified (the regulation map). Finally, the flexibility necessary to avoid failure, from any state reached by the pay-as-you-go system, is inferred in timing and magnitude.

Keywords: Pay-as-you-go; -; Dynamical; systems; -; Control; theory; -; Viability; theory (search for similar items in EconPapers)
Date: 2002-01-18
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.de/link/service/journals/00191/papers/1011005/10110555.pdf (application/pdf)
Access to the full text of the articles in this series is restricted

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:joevec:v:11:y:2001:i:5:p:555-571

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/191/PS2

Access Statistics for this article

Journal of Evolutionary Economics is currently edited by Uwe Cantner, Elias Dinopoulos, Horst Hanusch and Luigi Orsenigo

More articles in Journal of Evolutionary Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().