Transition from a pay-as-you-go to a fully funded pension system: the case of differing individuals and intragenerational fairness

Article Abstract:

Earlier studies using an overlapping-generations model of public pension systems with identical individuals are extended. Their findings indicate that it is possible to achieve a Pareto-improving transition from an established unfunded pension scheme to a funded pension system. These studies are extended by using a model of intergenerationally fair pay-as-you-go pension system with different individuals with dissimilar earning ability. Findings show that a Pareto-improving transition to a fully funded system is not possible in this case.

Social security

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Progressive taxation and income inequality in dynamic competitive equilibrium

Article Abstract:

A positive relationship exists between progressive taxation and income inequality in a simple dynamic economy. Agents belonging to lower income tend to suffer more from progressive taxation as rich agents prefer to have less income in such situation. On the other hand, poor agents tend to incur less debt in situations where capital return is bigger as a result of upward re-scaling of tax function.

Economics, Research and Development in the Social Sciences and Humanities, Progressive taxation

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Lifetime income redistribution by the old-age state pension in The Netherlands

Article Abstract:

The impact of the Dutch General Old-Age Pensions Act on the distribution of equivalent lifetime income is examined. A dynamic cross-sectional microsimulation model is used in the analysis. It is demonstrated that lifetime redistribution is much smaller than redistribution estimated from a period approach by studying vertical and horizontal redistributional effects.

Economic aspects, Netherlands

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