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Reforming Social Security: Assessing the Effects of Alternative Funding Strategies in a Small Open Economy

Author

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  • Thogersen, O.

Abstract

Population ageing implies that the large pay-as-you-go social security programs implemented in many OECD economies will run into severe financial problems. By means of a numerical overlapping generations model, this paper investigates the intergenerational welfare effects of a transition to funded programs. Such programs imply permanent increases in the welfare of the young and unborn generations. We demonstrate that the size of the welfare gains varies significantly between alternative funding strategies.

Suggested Citation

  • Thogersen, O., 1997. "Reforming Social Security: Assessing the Effects of Alternative Funding Strategies in a Small Open Economy," Papers 17/97, Norwegian School of Economics and Business Administration-.
  • Handle: RePEc:fth:norgee:17/97
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    More about this item

    Keywords

    SOCIAL SECURITY ; PENSION FUNDS;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models

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