Political sustainability of unfunded pensions in an endogenous growth model
Cooley and Soares (1999) show that a pay-as-you-go pension system can be an outcome of a political equilibrium and rather relatively large size of it can be introduced. This note assumes endogenous growth model rather than the exogenous one, which establishes a link between savings rate and economic...
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| Format: | Article |
| Language: | English |
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2007-08-15.
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| Online Access: | Get fulltext Get fulltext |