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Le débat Samuelson-Lerner et les régimes de retraite publics

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  • Ascah, Louis

    (Université de Sherbrooke)

Abstract

This article reviews the Samuelson-Lerner debate and its implications for the design of public pension plans. Pay-as-you-go public pension plans can provide a fictitious rate of interest equal to the rate of growth of the economy. The conclusion that pay-as-you-go financing provides greater welfare than a funded plan when the rate of growth is greater than the rate of return and vice-versa holds only in a steady state and pension policy should not be based on artificial worlds which can never exist.

Suggested Citation

  • Ascah, Louis, 1978. "Le débat Samuelson-Lerner et les régimes de retraite publics," L'Actualité Economique, Société Canadienne de Science Economique, vol. 54(4), pages 521-530, octobre.
    • Handle: RePEc:ris:actuec:v:54:y:1978:i:4:p:521-530
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    References listed on IDEAS

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    1. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66(6), pages 467-467.
    2. J. C. Weldon, 1976. "On the Theory of Intergenerational Transfers," Canadian Journal of Economics, Canadian Economics Association, vol. 9(4), pages 559-579, November.
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