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Transition vers un système par capitalisation dans un modèle de croissance endogène

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  • Pascal Belan

Abstract

We study the transition from an unfunded to a funded pension system in an endogenous growth overlapping generations model (with positive externality of aggregate capital stock on individual producers). We suppose that workers have different skill levels. We distinguish cases where the initial unfunded system provides either uniform or past wage decreasing replacement rates. In the first case, a saving-fostering subsidy can make both transition generations and future generations better off. In the second case, the shift in saving return may be insufficient to realize a Pareto-improving reform. Then one needs to keep a intragenerational redistribution scheme. Classification JEL : H55, O41, D9, J1

Suggested Citation

  • Pascal Belan, 2001. "Transition vers un système par capitalisation dans un modèle de croissance endogène," Revue économique, Presses de Sciences-Po, vol. 52(6), pages 1205-1226.
    • Handle: RePEc:cai:recosp:reco_526_1205
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    1. Pascal Belan & Philippe Michel & Pierre Pestieau, 1998. "Pareto-Improving Social Security Reform," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 23(2), pages 119-125, December.
    2. Brunner, Johann K., 1996. "Transition from a pay-as-you-go to a fully funded pension system: The case of differing individuals and intragenerational fairness," Journal of Public Economics, Elsevier, vol. 60(1), pages 131-146, April.
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    4. Brunner, Johann K., 1993. "Redistribution and the efficiency of the pay-as-you-go pension system," Discussion Papers, Series I 265, University of Konstanz, Department of Economics.
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    7. Laurence J. Kotlikoff, 1996. "Privatization of Social Security: How It Works and Why It Matters," NBER Chapters, in: Tax Policy and the Economy, Volume 10, pages 1-32, National Bureau of Economic Research, Inc.
    8. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
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    13. MARCHAND, M. & MICHEL, Ph. & PESTIEAU, P., 1990. "Optimal intergenerational transfers in a growth model with fertility and productivity changes," LIDAM Discussion Papers CORE 1990059, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    15. BELAN, Pascal & MICHEL, Philippe & PESTIEAU, Pierre, 1996. "Pareto improving social security reform with endogenous growth," LIDAM Discussion Papers CORE 1996057, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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    More about this item

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • J1 - Labor and Demographic Economics - - Demographic Economics

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