期刊名称：Discussion Papers / School of Business, University of New South Wales
出版年度：2009
卷号：2009
出版社：Sydney
摘要：In many emerging economies pension programs of public sector workers are more
generous than pension programs of private sector workers. In this paper we investigate
public pension reforms that improve efficiency and welfare by reallocating government
resources from non-productive public pensions to productive public education and in-
frastructure investments. We argue that the opportunity costs of running generous
public pension schemes for civil servants are potentially large in emerging economies
that often suffer from low public investments in education and infrastructure. In ad-
dition, we quantitfy the savings distortions as well as the tax distortions from running
a generous public pension program. Calculating transitions to the post-reform steady
state, we find that welfare losses for the generation born before the reform are offset
by welfare gains by the generations born after the reform.
关键词：Social Security Reform, Generous Public Sector Pensions, Capital
Accumulation, Public Education and Infrastructure Investments
