Do Beveridgian pension systems increase growth?
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In this paper, we explain why the structure of pension systems has an impact on the growth rate of an economy. Using a capital accumulation model, we show that the more a pension system is Beveridgian, the higher the growth rate of the economy is.
KeywordsPensions system Bismarckian Beveridgian Capital
I thank A. d’Autume, A. Cigno, H. Cremer, N. Drouhin, F. Terrier-Hachon, and an anonymous referee for their helpful remarks.
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