@techreport{Adam2004Macroeconomic,
abstract = {This paper analyses the effects of a pension system privatization in a unionized economy.
Using an overlapping-generations framework we show that in an environment characterized
by unemployment, a reform towards a private pension system in the steady state may result in
lower levels of employment and capital stock. In this case even if the privatization increases
the welfare of all future generations, the reduction in the welfare of the elderly due to reduced
pension benefits may be greater and a Pareto improving transition to a private system may not
be feasible. On the other hand if the reform leads to higher employment then a Paretoimproving
pension privatization scheme can be constructed.},
author = {Antonis Adam},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {J51; J32; H55; 330; public pensions; social security privatization; labour union; unemployment; Gesetzliche Rentenversicherung; Rentenreform; Privatisierung; Arbeitslosigkeit; Overlapping Generations; Kleines-offenes-Land; Gewerkschaftlicher Organisationsgrad; Wohlfahrtseffekt; Theorie},
language = {eng},
number = {1371},
title = {Macroeconomic effects of social security privatization in a small unionized economy},
type = {CESifo working papers},
url = {http://hdl.handle.net/10419/18734},
year = {2004}
}
