Year: 2004
Author: Weikard, Hans-Peter
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 124 (2004), Iss. 3 : pp. 355–369
Abstract
This paper addresses the problem of intergenerational and intragenerational distribution in a pay-as-you-go pension system. While each generation pays the pensions of the preceding generation, they also bear the burden of raising the next. The burden of child care is unevenly distributed within a generation. Demographie change affects the distribution across generations. To resolve both distributional issues this paper proposes to apply the rights-egalitarian sharing rule. Under this rule individual claims are fully respected; all gains or losses are divided equally. lt can be shown that a rights-egalitarian pension system implements füll compensation for human capital investments in a long-run equilibrium.
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/schm.124.3.355
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 124 (2004), Iss. 3 : pp. 355–369
Published online: 2004-03
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 15