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ride. Recent literature is undecided to what extent this inefficient savings distortion should be addressed by a compulsory … show that it is Pareto improving to fully eliminate the savings distortion by means of a compulsory pension termed Hayek …
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pension system, where savings are matched by government grants. Accounting for the resulting tax expenditure, our models …
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myopia may justify public pensions but never alongside positive private savings. With sufficient myopia, co-existence of …
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