Pension Reform in an OLG Model with Multiple Social Security Systems
No 805, ERC Working Papers from ERC - Economic Research Center, Middle East Technical University
Primarily due to financial sustainability problems, social security reforms have been on the policy agenda of both developed and developing countries for the last decade. Research literature on the subject tends to use overlapping generations (OLG) models with single representative household and presents reforms as shock to the constructed model. This study presents an OLG model with three separate social security institutions where the heterogeneity is through different benefit payments and contribution rates. Convergence across various institutions is enabled by a replacement ratio shock and model dynamics are discussed.
JEL-codes: C68 D91 I38 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age and nep-dge
Date: 2008-10, Revised 2008-10
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Persistent link: https://EconPapers.repec.org/RePEc:met:wpaper:0805
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