Public Pensions and Economic Growth

by Berthold U. Wigger

This book studies the normative and positive ramifications of public pension policies in a growing economy. It analyzes the impact of an unfunded public pension scheme on aggregate productivity growth and efficiency, it considers the political forces behind public pension legislation, and it develops and discusses elements of public pension design and reform. The book emphasizes the endogenous growth paradigm for an understanding of the dynamic impact of intergenerational transfers inherent in an unfunded public pension scheme. It uncovers an allocative role of intergenerational transfers which is exclusively linked to the possibility of endogenously evolving economic growth. The endogenous growth approach also allows to identify unfunded public pensions as a source of a conflict between current and future generations. This conflict shapes private old-age security considerations as well as the process of public pension legislation

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Year of publication:	2002
Authors:	Wigger, Berthold U.
Publisher:	Berlin, Heidelberg : Springer Berlin Heidelberg
Subject:	Gesetzliche Rentenversicherung \| Public pension system \| Theorie \| Theory \| Umlageverfahren \| Pay-as-you-go \| Endogenes Wachstumsmodell \| Endogenous growth model \| Rentenreform \| Pension reform \| Wirtschaftswachstum \| Economic growth \| Altersvorsorge \| Retirement provision \| Intergenerationale Übertragung \| Intergenerational transfer \| Overlapping Generations \| Overlapping generations \| Arbeitsproduktivität \| Labour productivity

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Extent:	Online-Ressource (XI, 164 p) online resource
Type of publication:	Book / Working Paper
Language:	English
Notes:	1. Introduction2. Public Pensions and Economic Growth: The Basic Framework -- 2.1. The Analytical Elements -- 2.2. Productivity Growth -- 2.3. Allocative Efficiency -- 2.4. Public Pension Reform -- Appendix 2 -- 3. The Allocative Role of Intergenerational Transfers in Endogenous Growth Economies -- 3.1. Investment Externalities, Intergenerational Transfers, and Pareto-improvements -- 3.2. The Length of the Working Life -- 3.3. Endogenous Innovation -- 3.4. Human Capital Formation -- Appendix 3 -- 4. Public versus Private Intergenerational Transfers -- 4.1. Dynastic Altruism -- 4.2. Gifts, Bequests, and Growth -- 4.3. When Are Private Intergenerational Transfers Operative? -- 4.4. Old-Age Security and Neutrality -- 4.5. Legislating Public Pensions (I) -- Appendix 4 -- 5. The Family as an Old-age Security Device -- 5.1. A Twofold Fertility Motive -- 5.2. The Interplay between Productivity Growth and Fertility -- 5.3. Legislating Public Pensions (II) -- Appendix 5 -- 6. Summary -- List of Symbols -- References -- Author Index.
ISBN:	978-3-540-24801-9 ; 978-3-642-07759-3
Other identifiers:	10.1007/978-3-540-24801-9 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013521771