Pension Systems in Open Economy

Alessandra Casarico

Economics Papers from Economics Group, Nuffield College, University of Oxford

Abstract: The paper focuses on the effects of the integration in a perfect world capital market of two large economies running respectively a pay-as-you-go and a fully funded pension system. Under the assumption that the pay-as-you-go is in steady state and self financing, the integration causes changes in factor prices and divergent welfare effects both across countries and across generations.

Keywords: PENSION FUNDS; SOCIAL SECURITY; GENERATIONS (search for similar items in EconPapers)
JEL-codes: D91 G23 H55 (search for similar items in EconPapers)
Pages: 51 pages
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:nuf:econwp:1999-w10

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