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Fulfy-funded pension systems are claimed to be less distortionary of labor allocation decisions than pay-as-you-go systems. This paper explores this issue in the framework of an overlapping generation model of endogenous growth where capiral has an external effect on labor productivity and worker...


Corsetti, Giancarlo[An Endogenous Growth Model of Social Security and the Size of the Informal Sector]An Endogenous Growth Model of Social Security and the Size of the Informal Sector

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