摘要
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.
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.
