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Book Cover
Author Pestieau, Pierre, 1943- author

Title The political economy of redistributive social security / prepared by Pierre Pestieau
Published [Washington, D.C.] : International Monetary Fund, Fiscal Affairs Department, 1999
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Description 1 online resource (22 pages) : illustrations
Series IMF working paper ; WP/99/180
IMF working paper ; WP/99/180
Summary Annotation Population aging puts significant pressure on social security systems that are based mainly on a pay-as-you-go (PAYG) formula and determined by the political process in which both retirees and future retirees participate. This paper demonstrates that in an economic and demographic steady state, majoritarian democracy overspends on social security. It then shows that in case of demographic shock, the regular majority process can be paralyzed by the development of entrenched interest groups that could lose from majority decisions. Depending on the way these entrenched interests operate, they can be judged more or less desirable from the viewpoint of social justice
Bibliography Includes bibliographical references (pages 21-22)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Aging.
Labor productivity.
Social security -- Costs.
Social security -- Finance.
Form Electronic book
Author International Monetary Fund. Fiscal Affairs Department, issuing body
ISBN 1451904452