Pareto improving social security reform with endogenous growth

Pascal Belan (), Philippe Michel and Pierre Pestieau

No 1996057, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: It is generally accepted that moving from an unfunded to a funded social security sys- tem implies a welfare loss for the transition generation, that is the generation that has to pay twice: first, saving for its own retirement and second, contributing to the pensions of the then retired generation. This paper shows that in a setting of endogenous growth with positive externality such a transition can be Pareto-improving.

JEL-codes: D9 H55 J1 O41 (search for similar items in EconPapers)
Date: 1996-11-01
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:1996057

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