| Analysis of Transition of Pension System in an Endogenous Model |
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| 作者姓名： | 叶栩青 |
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| 作者单位： | Finance School，Shanghai Institute of Foreign Trade，Shanghai，201620 |
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| 摘 要： | IntroductionAllovertheworld ,thetrendhasturnedagainstpay as you go (PAYG )socialsecuritysystemstoofferapensionsystembasedonfunding .Whenlifeexpectancyissteadilyincreasing ,mosttraditionalPAYGsystemshavebeenperceivedtobeinastateofcrisis.ShouldthePAYGsystembereplacedwithafundedsystem ,andifso ,why ?Manyauthorshaveexpressedmanydifferentopinionsonthisproblem ,andthematterhasbeenanalyzedwithinhighlysophisticatedtheoreticalandempiricalmodels.Someauthors,likeFeldstein(1995 ) ,Kotlikoff,Smetter…
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Analysis of Transition of Pension System in an Endogenous Model |
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| YE Xu-qing,Finance School.Analysis of Transition of Pension System in an Endogenous Model[J].Journal of Donghua University,2004,21(4). |
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| Authors: | YE Xu-qing Finance School |
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| Institution: | Finance School,Shanghai Institute of Foreign Trade,Shanghai,201620 |
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| Abstract: | In this paper we investigate the possibility of pareto improving social security reforms within a framework of endogenous growth. Belan et al. proposed a transition from a pay-as-you-go(PAYG) pension system to a system of saving-subsidization. We follow this approach and prove that a pareto improving conversion from the PAYG system to a fully funded system is possible and discuss the problem of implementing the transition to the fully funded system. |
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| Keywords: | social security PAYG funded endogenous growth |
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