., Amol; Bishnu, Monisankar; Kumar, Harsh; Ray, Tridip - 2020
This paper exploits a well accepted inefficiency that arises out of Pay-As-You-Go (PAYG) pensions itself to phase it out in a Pareto way. The positive externality of having children in a PAYG pension system is carefully utilized to phase the pensions out. In a model with endogenous fertility the...