The existence of pay-as-you-go (PAYG) financed public pension plans is usually explained by median-voter models or by strategic non-saving behavior by young generations. Here it is claimed that both types of models are neither sufficient nor necessary for explaining PAYG-systems. © 1988.
CITATION STYLE
Verbon, H. A. A. (1988). Explaining pay-as-you-go financed public pension systems. Economics Letters, 28(2), 181–187. https://doi.org/10.1016/0165-1765(88)90111-5
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