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Do Redistributive Pension Systems Increase Inequalities and Welfare?

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  • Christophe Hachon

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

Using a capital-skill complementarity technology, we analytically show that an increase in the direct redistributivity of Pay-As-You-Go (PAYG) pension systems has a positive impact on wages and on wage inequalities. We also show that life expectancyinequalities play an important role in the achievement of these results. Then, we calibrate our model and we and that, if life expectancy inequalities are suffciently high, a more redistributive pension system increases the wealth and the welfare of every agent of the economy. Moreover, such a policy decreases the tax rate of the pension system.

Suggested Citation

  • Christophe Hachon, 2008. "Do Redistributive Pension Systems Increase Inequalities and Welfare?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00285040, HAL.
    • Handle: RePEc:hal:cesptp:halshs-00285040
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00285040
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    Cited by:

    1. repec:dau:papers:123456789/8577 is not listed on IDEAS
    2. Gustafsson, Johan, 2021. "Public Pension Reform and the Equity-Efficiency Trade-off," Umeå Economic Studies 992, Umeå University, Department of Economics.

    More about this item

    Keywords

    Inequality; Pension System; Redistribution; Capital-Skill Complementarity;
    All these keywords.

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