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security systems are smaller. We relate the stylized fact to an "efficiency-redistribution" trade-off to be resolved by …
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We suggest a political economy explanation for the stylized fact that intragenerationally more redistributive social security systems are smaller. Our key insight is that linking benefits to past earnings (less redistributiveness) reduces the efficiency cost of social security (due to endogenous...
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voters, earnings-related systems are more attractive both because of less intragenerational redistribution and lower …
Persistent link: https://www.econbiz.de/10012759164
We suggest a political economy explanation for the stylized fact that intragenerationally more redistributive social security systems are smaller. Our key insight is that linking benefits to past earnings (less redistributiveness) reduces the efficiency cost of social security (due to endogenous...
Persistent link: https://www.econbiz.de/10013318763
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