On social security financial crisis

被引：13

作者：

Cerda, R ^{[1
]}

机构：

[1] Pontificia Univ Catolica Chile, Dept Econ, Santiago, Chile

来源：

JOURNAL OF POPULATION ECONOMICS | 2005年 / 18卷 / 03期

关键词：

pay-as-you-go social security; demographic transition; financial crisis;

D O I：

10.1007/s00148-005-0233-6

中图分类号：

C921 [人口统计学];

学科分类号：

摘要：

We indicate that financial crisis in social security programs might be endogenous because social security affects fertility and human capital's decisions and thus, the aggregate growth rate of the economy. These effects lead to an endogenous erosion of the financial basis of the PAYG social security program so that, as a consequence, the PAYG system is not sustainable and it requires continuous increases in the social security tax rate.

引用

页码：509 / 517

页数：9

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