期刊名称：Central European Journal of Economic Modelling and Econometrics
印刷版ISSN：2080-0886
电子版ISSN：2080-119X
出版年度：2020
期号：2
页码：171-194
DOI：10.24425/cejeme.2020.133720
语种：English
出版社：Polska Akademia Nauk
摘要：Initial public pensions are indexed to the economy-wide average wages, but pensions in progress are indexed to prices, average wages or their combinations – varying across countries and periods. We create a simple overlapping cohorts framework to study the properties of indexing pensions in progress – emphasizing a neglected issue: close wage paths should imply close benefit paths even at real wage shocks. This robustness criterion of an equitable pension system is only satisfied by wage indexing, which in turn requires the adjustment of the accrual rate. To minimize the redistribution from low-earning short-lived citizens to high-earning long-lived ones, progression should be introduced.
关键词：public pensions;indexation;horizontal equity;pensions in progress
