We assess the political support for parametric reforms of the Pay-As-You-Go pension system following a downward fertility shock. Using a continuous time overlapping generations model, we argue that reforms that consist in cutting pension benefits or increasing the retirement age are likely to receive a strong political support. An increase in the contribution rate has, on the contrary, fewer chances to be approved by the majority of the voters. This framework also allows to identify the costs and benefits of postponing each type of reform and to determine how the timing of the different reforms affects their political support
In most countries Pay-as-you-go (PAYG) is the dominant pension scheme. The conventional view is that...
It is often argued that the observed trend towards early retirement is due mainly to the implicit ta...
This paper investigates how parametric reform in a pay-as-you-go pension system with a tax-benefit l...
We assess the political support for parametric reforms of the Pay-As-You-Go pension system following...
We assess the political support for parametric reforms of the Pay-As-You-Go pension system following...
A broad political economics literature explains the introduction and expansion of pension systems, b...
In today\u27s world, falling fertility and rising life expectancy have destabilized the public pensi...
The net present value of costs and benefits from a pay-as-you-go social security system are negative...
We demonstrate the interaction between short-lived governments’ decisions on education and pension p...
It is often argued that the observed trend towards early retirement is due mainly to the implicit ta...
The paper examines formation and sustainability of Pay-As-You-Go pension systems within the conseque...
Chapter 2: Welfare comparisons between funded and pay-as-you-go (PAYG) or unfunded pension systems a...
Conventional economic wisdom indicates that the aging process will cause large financial unbalances ...
In order to face the population ageing problem, most countries with PAYG systems introduced pension ...
This article analyses how long-run pay-as-you-go public pensions react to a change in fertility in t...
In most countries Pay-as-you-go (PAYG) is the dominant pension scheme. The conventional view is that...
It is often argued that the observed trend towards early retirement is due mainly to the implicit ta...
This paper investigates how parametric reform in a pay-as-you-go pension system with a tax-benefit l...
We assess the political support for parametric reforms of the Pay-As-You-Go pension system following...
We assess the political support for parametric reforms of the Pay-As-You-Go pension system following...
A broad political economics literature explains the introduction and expansion of pension systems, b...
In today\u27s world, falling fertility and rising life expectancy have destabilized the public pensi...
The net present value of costs and benefits from a pay-as-you-go social security system are negative...
We demonstrate the interaction between short-lived governments’ decisions on education and pension p...
It is often argued that the observed trend towards early retirement is due mainly to the implicit ta...
The paper examines formation and sustainability of Pay-As-You-Go pension systems within the conseque...
Chapter 2: Welfare comparisons between funded and pay-as-you-go (PAYG) or unfunded pension systems a...
Conventional economic wisdom indicates that the aging process will cause large financial unbalances ...
In order to face the population ageing problem, most countries with PAYG systems introduced pension ...
This article analyses how long-run pay-as-you-go public pensions react to a change in fertility in t...
In most countries Pay-as-you-go (PAYG) is the dominant pension scheme. The conventional view is that...
It is often argued that the observed trend towards early retirement is due mainly to the implicit ta...
This paper investigates how parametric reform in a pay-as-you-go pension system with a tax-benefit l...