Pay-As-You-Go Public Pension Systems: Two-Sided Altruism and Endogenous Growth

Yang, Zaigui

Pay-As-You-Go Public Pension Systems: Two-Sided Altruism and Endogenous Growth

MPRA Paper from University Library of Munich, Germany

Abstract: Within the framework of an overlapping generations model with two-sided altruism and endogenous growth, this paper calculates the rates of fertility, output growth, child-rearing cost, saving, consumption, net intertemporal transfer, bequest and gift, and compares the equilibrium solutions under different public pension systems. It proves that the fully-fertilitylinked public pension system (FFLPPS) is equivalent to the system without public pension (WPPS), and the partly-fertility-linked public pension system (PFLPPS) is equivalent to the conventional public pension system (CPPS). The CPPS is beneficial to developing countries in promoting economic growth and reducing population. It is necessary for developed countries to weigh gains and losses carefully if they hope to transform their CPPS (or PFLPPS) to the FFLPPS.

Keywords: Public Pension; Two-Sided Altruism; Endogenous Growth (search for similar items in EconPapers)
JEL-codes: H55 (search for similar items in EconPapers)
Date: 2005-06
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Citations: View citations in EconPapers (1)

Published in Asia-Pacific Journal of Risk and Insurance 1.1(2005): pp. 33-44

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Journal Article: Pay-As-You-Go Public Pension Systems: Two-sided Altruism and Endogenous Growth (2005)
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