Series: IMF Working Papers
Author(s): Charles Kramer , and Yutong Li
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 1997
Keywords: public pensions, applied general equilibrium, pension, benefits, public pension, wage, retirement
Like other transfer programs, a pay-as-you-go public pension system can significantly affect economic behavior and, hence, relative prices and macroeconomic aggregates. This paper illustrates some of these effects,...