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• W2000102787 abstract "ABSTRACT This paper analyzes the effects of pension funding for a small open economy in which wages are subject to bargaining. Using an overlapping‐generations framework, we show that a reform away from a Pay‐As‐You‐Go towards a funded pension system will be Pareto improving only if the reform results in a reduction in the steady‐state unemployment rate. However, the reduction in the unemployment rate is by no means warranted: although for pension systems which involve a limited amount of intra‐generational redistribution this is likely, for systems displaying a high degree of intra‐generational redistribution the unemployment rate may well rise thus preventing the realization of welfare gains." @default.
• W2000102787 created "2016-06-24" @default.
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• W2000102787 date "2009-03-31" @default.
• W2000102787 modified "2023-10-16" @default.
• W2000102787 title "PENSION FUNDING IN A UNIONIZED ECONOMY" @default.
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• W2000102787 doi "https://doi.org/10.1111/j.1467-9485.2009.00481.x" @default.
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