Pareto improving transition from a pay-as-you-go to a fully funded pension system in a model of endogenous growth

Gábor Gyárfás () and Marko Marquardt ()
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Gábor Gyárfás: Department of Economics, University of Bonn, Adenauerallee 24-42, D-53113 Bonn, Germany
Marko Marquardt: Department of Economics, University of Bonn, Adenauerallee 24-42, D-53113 Bonn, Germany

Journal of Population Economics, 2001, vol. 14, issue 3, 445-453

Abstract: In this paper we investigate the possibility of Pareto improving social security reforms within a framework of endogenous growth. Belan et al. (1998) propose a transition from a pay-as-you-go (PAYG) pension system to a system of savings-subsidization. We follow this approach and prove that a Pareto improving conversion from the PAYG system to a fully funded one is possible. Finally, we compare the subsidy system with the fully funded system and discuss the problem of implementing the transition to the fully funded system.

Keywords: Public; pensions; ·; endogenous; growth (search for similar items in EconPapers)
JEL-codes: H55 (search for similar items in EconPapers)
Date: 2001-08-20
Note: Received: 07 March 1999/Accepted: 13 December 1999
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Citations: View citations in EconPapers (11)

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