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http://hdl.handle.net/10419/21185
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| Title: | | Why Funding is not a Solution to the "Social Security Crisis"  |
| Authors: | | Breyer, Friedrich |
| Issue Date: | | 2001 |
| Series/Report no.: | | IZA Discussion paper series 328 |
| Abstract: | | It is now a commonplace that the unfunded public pension systems of many OECD countries will run into severe financing problems in the coming decades due to a dramatically increasing pensioner/worker ratio. While this diagnosis is completely undisputed, there is still a vigorous debate on the appropriate therapy. In this debate, a number of proposals have been brought forward in particular in the last five years, which mainly consist in a (partial) transition to a funded pension system. Because such a transition is not a Pareto improvement, it is necessary to ask what can be the policy target that justifies such a redistributive move? The present paper tries to examine this question by identifying seven fallacies that are commonly made by advocates of such a transition. |
| Subjects: | | Social security transition to funding Pareto improvement policy proposals |
| JEL: | | H55 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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