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"Should I pay for you or for myself"?: the optimal level and composition of retirement benefit systems

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Bibliographic Details
Authors and Corporations: Praag, Bernard M. S. van (Author), Cardoso, Pedro (Author)
Other Authors: Cardoso, Pedro [Author]
Type of Resource: E-Book
Language: English
published:
Series: Forschungsinstitut zur Zukunft der Arbeit: Discussion paper series ; 249
Subjects:
Altersvorsorge
Gesetzliche Rentenversicherung
Umlageverfahren
Kapitaldeckungsverfahren
Optimales Wachstum
Sozialversicherungsbeitrag
Optimale Besteuerung
Theorie
Alternde Bevölkerung
Graue Literatur
Arbeitspapier
Source: Verbunddaten SWB
Lizenzfreie Online-Ressourcen
Description
Summary: Feldstein [1985] posed the questions of what would be the optimal level of retirement benefit, and what would be the optimal mix between the pay-as-you-go system and the funded pension system under the assumption of an exogenous interest rate. We reconsider the problem with the addition of a flexible production function and, consequently, an endogenous interest rate. Moreover, we allow the contributions rate O to be negative as well. In the case of a negative O, the retired subsidize the workers out of their saved capital. This case turns out to be the optimal one in situations of low population growth.
Physical Description: Online-Ressource ([2], 29 S.)
Type of Resource: Systemvoraussetzungen: PDF-Reader.