Περίληψη σε άλλη γλώσσα

I explore the effects of exogenous parameters of the social security system on the welfare of individuals, in an overlapping generations economy, where labor supply is inelastic. There is skills heterogeneity, so that individuals of this economy can be either low or high-skilled. The low-skilled receive an extra supplement pension. The social security system has three exogenous parameters: the benefits rate, the contributions rate and the financing parameter that represents the weight of the funded part of the system. I examine the equilibrium conditions of total contributions and total benefits, in order to find the equilibrium supplement pension, as a function of the exogenous parameters. The supplement pension can be a proportion of the wage or a flat amount. I examine and compare the effects of the three exogenous social security parameters on the following four cases: the welfare of the low and the high-skilled, for both the cases the supplement is a proportion of the wage and whe ...
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