Pension Preferences and Reform – A Political-Economy Model
This dissertation has emphasized two things so far. First, existence and sustainability of a pension system is not merely an economic efficiency question but rather a highly political issue. Theoretical explanations therefore need to explicitly model political factors. Second, any pension reform is a purely redistributional policy shift that entails a different political rationale than Pareto-improving policy changes do.
KeywordsPension System Median Voter Policy Preference Young Worker Vote Share
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