基本説明
Emphasizes the allocative role of intergeneratoinal transfers in endogenous growth economies.
Full Description
This book contains material that I have presented in seminars at the Universities of Bochum, Mannheim, Munich, Salerno, and Southern California at Los Angeles, the Institute for Advanced Studies in Vienna, the Max-Planck-Institute for Demographic Research in Rostock, and on various international meetings and conferences. In preparing and revising the material I have benefited from comments, discussions, and advice from several colleagues. I had particularly close and friendly collaboration with Alexander Kemnitz and Robert von Weizsicker to whom I am very grateful. I am also grateful to Michele Boldrin, Axel Borsch-Supan, Friedrich Breyer, Karen Feist, Tullio Jappelli, Leo Kaas, Marco Pagano, Gerhard Schwooiauer, Carl Christian von Weizsacker, and Wolfgang Wiegard for their comments and suggestions. Finally, I would like to thank the Deutsche Forschungsgemeinschaft for financial support. Mannheim, January 2002 Berthold U. Wigger Contents 1. Introduction ...1 2. Public Pensions and Economic Growth: The Basic Framework . . 5 2. 1. The Analytical Elements 7 2. 1. 1. The Individuals 7 2. 1. 2. The Firms 10 2. 1. 3. The Public Pension Program 11 2. 1. 4.
The Competitive Equilibrium 12 2. 2. Productivity Growth 13 2. 3. Allocative Efficiency 19 2. 4. Public Pension Reform 25 Appendix 2 ...30 3. The Allocative Role of Intergenerational Transfers in Endogenous Growth Economies 33 3. 1. Investment Externalities, Intergenerational Transfers, and Pareto-improvements ...35 Contents x 3. 1. 1. A Subsidy to Private Savings 35 3. 1. 2. A Pareto-Improving Policy 38 3. 2.
Contents
1. Introduction.- 2. Public Pensions and Economic Growth: The Basic Framework.- 2.1. The Analytical Elements.- 2.1.1. The Individuals.- 2.1.2. The Firms.- 2.1.3. The Public Pension Program.- 2.1.4. The Competitive Equilibrium.- 2.2. Productivity Growth.- 2.3. Allocative Efficiency.- 2.4. Public Pension Reform.- Appendix 2.- 3. The Allocative Role of Intergenerational Transfers in Endogenous Growth Economies.- 3.1. Investment Externalities, Intergenerational Transfers, and Pareto-improvements.- 3.1.1. A Subsidy to Private Savings.- 3.1.2. A Pareto-Improving Policy.- 3.2. The Length of the Working Life.- 3.2.1. A Two-Period Model without Retirement.- 3.2.2. A Three-Period Model with Retirement.- 3.3. Endogenous Innovation.- 3.4. Human Capital Formation.- 3.4.1. Externalities from Human Capital Formation.- 3.4.2. An Optimal Public Pension Scheme.- Appendix 3.- 4. Public versus Private Intergenerational Transfers.- 4.1. Dynastic Altruism.- 4.2. Gifts, Bequests, and Growth.- 4.3. When Are Private Intergenerational Transfers Operative?.- 4.4. Old-Age Security and Neutrality.- 4.5. Legislating Public Pensions (I).- 4.5.1. The Political Equilibrium.- 4.5.2. An Intergenerational Conflict.- 4.5.3. The Role of Population Growth.- 4.5.4. Concluding Remarks.- Appendix 4.- 5. The Family as an Old-age Security Device.- 5.1. A Twofold Fertility Motive.- 5.2. The Interplay between Productivity Growth and Fertility.- 5.2.1. Operative Intrafamily Transfers.- 5.2.2. Productivity Growth.- 5.2.3. Fertility.- 5.2.4. The Economy's Growth Factor.- 5.3. Legislating Public Pensions (II).- 5.3.1. The Political Equilibrium.- 5.3.2. Reduced Joy of Having Children.- 5.3.3. A Numerical Example.- Appendix 5.- 6. Summary.- List of Symbols.- References.- Author Index.
