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Title:How to avoid a pension crisis: a question of intelligent system design PDF Logo
Authors:Cigno, Alessandro
Issue Date:2009
Series/Report no.:CESifo working paper 2590
Abstract:Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing individuals to qualify for a pension by working and paying contributions in the usual way, and an unconventional one allowing them to qualify for a pension by having children, and investing time and money in their upbringing.
Subjects:Pension reform
implicit pension taxes and subsidies
child benefits
fertility
labour productivity
JEL:D13
D64
H55
J13
J14
J26
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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