| Autor: |
Fedotenkov, I., Meijdam, A.C. |
| Přispěvatelé: |
Department of Economics, Research Group: Economics |
| Jazyk: |
angličtina |
| Rok vydání: |
2014 |
| Zdroj: |
International Economics and Economic Policy, 11(3), 431-450. Springer Verlag |
| ISSN: |
1612-4804 |
| Popis: |
This paper shows that in a two-country two-overlapping-generations model with migration, capital mobility and an immobile production factor (land), a locally welfare-improving pension reform at the cost of the neighboring country is possible if land plays a minor role in production. Furthermore, differences in the size of the PAYG pension schemes between the countries distort the international allocation of labour and capital. As a result, a Pareto-improving pension reform is possible if countries employ PAYG pension schemes of different size, provided that a federal government exists that redistributes benefits and losses of the reform both intergenerationally and internationally. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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