Long-run effects of unfunded social secu
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Jie Zhang; Junsen Zhang
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Article
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2003
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Elsevier Science
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English
β 336 KB
This paper examines the e ects of unfunded social security with bequests, fertility and human capital by considering a mix of earnings-dependent and universal social security beneΓΏts. We show that social security is more likely to promote growth by reducing fertility and increasing human capital inv