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Social security, income inequality and growth
| Content Provider | Scilit |
|---|---|
| Author | Garrec, Gilles L. E. |
| Copyright Year | 2011 |
| Description | In most industrial countries, public pension systems redistribute from workers to retired people, not from high-income to low-income earners. They are close actuarial fairness. However, they are not all equivalent. In particular, some pension benefits are linked to full lifetime average earnings, while others are only linked to partial earnings history. In the latter case, we then show in this article that an actuarially fair pay-as-you-go pension system can both reduce lifetime income inequality and enhance economic growth. We also shed light on the dilemma between inequality and economic growth in retirement systems: greater progressivity results in less lifetime inequlity but also less growth. |
| Related Links | https://www.cambridge.org/core/services/aop-cambridge-core/content/view/363AD73F3A46BAA88C58422D3C575A0A/S1474747211000229a.pdf/div-class-title-social-security-income-inequality-and-growth-a-href-fn01a-ref-type-fn-a-div.pdf |
| Ending Page | 70 |
| Page Count | 18 |
| Starting Page | 53 |
| ISSN | 14747472 |
| e-ISSN | 14753022 |
| DOI | 10.1017/s1474747211000229 |
| Journal | Journal of Pension Economics and Finance |
| Issue Number | 1 |
| Volume Number | 11 |
| Language | English |
| Publisher | Cambridge University Press (CUP) |
| Publisher Date | 2011-05-18 |
| Access Restriction | Open |
| Subject Keyword | Journal of Pension Economics and Finance Social Security Intertemporal Choice Human Capital |
| Content Type | Text |
| Resource Type | Article |
| Subject | Finance Economics and Econometrics Organizational Behavior and Human Resource Management |
