publication . Preprint . Other literature type . Article . 1994

Public pension reform, demographics, and inequality

Robert K. von Weizsäcker;
Open Access
  • Published: 01 Jun 1994
Abstract
Starting from a simple, descriptive model of individual income, an explicit link between the age composition of a population and the personal distribution of incomes is established. Demographic effects on income inequality are derived. Next, a pay-as-you-go financed state pension system is introduced. The resulting government budget constraint entails interrelations between fiscal and demographic variables, causing an additional, indirect demographic impact on the distribution. This is shown not only to change, but in some cases even to reverse the distributional incidence of an aging population. Several policy conflicts arise. The point is re-emphasized by an a...
Subjects
free text keywords: Fiscal-Demographic Policy Conflicts; Income Distribution; Old-Age Insurance Reform; Population Aging; Social Policy Design, jel:D31, jel:H55, jel:J18, Economics and Econometrics, Demography, Old Age Security, Economic inequality, Economics, Population, education.field_of_study, education, Population ageing, Income distribution, Budget constraint, Labour economics, Inequality, media_common.quotation_subject, media_common, Pension
Powered by OpenAIRE Open Research Graph
Any information missing or wrong?Report an Issue
publication . Preprint . Other literature type . Article . 1994

Public pension reform, demographics, and inequality

Robert K. von Weizsäcker;