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Pension Reform in Brazil: Transitional Issues in a Model with Endogenous Labor Supply

Brazilian Review of Econometrics

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Title Pension Reform in Brazil: Transitional Issues in a Model with Endogenous Labor Supply
Pension Reform in Brazil: Transitional Issues in a Model with Endogenous Labor Supply
 
Creator Ferreira, Sergio Guimarães; IBMEC-RJ and BNDES.
 
Description Brazilian PAYG system has been under financial stress and needs to be reformed. A com- putational general equilibrium model with 55 overlapping generations is used to simulate macroeconomic and welfare impacts of alternative social security reforms. Transition turns out to have quite different redistributional effects for the generations involved de- pending on which tax is used to finance it. There is no unanimity about which transitional tax path maximizes individual welfare. I study potential voting results if generations choose between the PAYG and a set of transitional schemes.
Brazilian PAYG system has been under financial stress and needs to be reformed. A com- putational general equilibrium model with 55 overlapping generations is used to simulate macroeconomic and welfare impacts of alternative social security reforms. Transition turns out to have quite different redistributional effects for the generations involved de- pending on which tax is used to finance it. There is no unanimity about which transitional tax path maximizes individual welfare. I study potential voting results if generations choose between the PAYG and a set of transitional schemes.
 
Publisher Sociedade Brasileira de Econometria
 
Date 2006-05-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/2500
10.12660/bre.v26n12006.2500
 
Source Brazilian Review of Econometrics; Vol 26, No 1 (2006); 127-153
Brazilian Review of Econometrics; Vol 26, No 1 (2006); 127-153
1980-2447
 
Language eng
 
Relation http://bibliotecadigital.fgv.br/ojs/index.php/bre/article/view/2500/1483