Designing an Optimal Public Pension System

Takao Fujii, Fumiaki Hayashi, Jun Iritani and Kazumasa Oguro

No 578, CIS Discussion paper series from Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University

Abstract: This paper uses a two-period overlapping generations model in order to provide a theoretical design for an optimal public pension system based on a partial equilibrium analysis. Household preferences only depend on two periods consumption and leisure and is homogeneous of degree m with respect to consumption in the working and retired periods. We present characteristic features of an optimal public pension system in this paper. First, differences in the population growth rate do not affect the relative level of the optimal net lifetime burden rate of each generation. Second, if m≠0 or m

Keywords: Overlapping generations model; public pension; optimal burden rate (search for similar items in EconPapers)
JEL-codes: D30 D60 D90 H21 H60 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2013-01
New Economics Papers: this item is included in nep-age and nep-dem
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Journal Article: Designing the optimal public pension system (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:hit:cisdps:578

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