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Capital accumulation, overlapping generations and dynamic efficiency in pension funding

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  • Joseph Hanna

Abstract

This paper considers dynamic efficiency and income distribution using an overlapping generation model of economic growth. The issues discussed within this framework intend to shed light on an ongoing debate in most developed countries: the reform in funding the retirement pension schemes. Private saving or compulsory distribution of income working independently of one another cannot achieve optimality. A flexible framework for policy action hinges on providing a mix of private saving and the adequate share of state sponsored security system.

Suggested Citation

  • Joseph Hanna, 2006. "Capital accumulation, overlapping generations and dynamic efficiency in pension funding," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 16(1), pages 39-54.
    • Handle: RePEc:wut:journl:v:1:y:2006:p:39-54
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    References listed on IDEAS

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