When the state mirrors the family: the design of pension systems
This paper studies the transmission mechanism from family culture to economic institutions, by analyzing the impact of the within family organization on the original design of the public pension systems. We build a simple OLG model with families featuring either weak or strong internal ties. When pe...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
München
CESifo
2010
|
| Schriftenreihe: | CESifo working papers
3191 : Category 1, Public finance |
| Online-Zugang: | http://www.ifo.de/portal/page/portal/ifoHome/b-publ/b3publwp/_wp_abstract?p_file_id=17861 Volltext |
| Zusammenfassung: | This paper studies the transmission mechanism from family culture to economic institutions, by analyzing the impact of the within family organization on the original design of the public pension systems. We build a simple OLG model with families featuring either weak or strong internal ties. When pensions systems are initially introduced, in society with strong ties they replicate the tight link between generations by providing earnings related benefits; whereas in societies with weak family ties they only act as a safety net. To test this transition mechanism, we consider Todd (1982) historical classification of family types across countries. We find that in societies dominated by absolute nuclear families (i.e., weak family ties), pension systems act as a flat safety net entailing a large within-cohort redistribution, and viceversa in societies characterized by stronger family ties where pension systems are more generous. This link between the type of families and the design of pension systems is robust to testing for alternative explanations, such as legal origin, religion, urbanization and democratization of the country at the time of their introduction. Interestingly, historical family types matter for explaining the design of the pension systems, which represents a persistent feature, but not their size, which have largely changed over time. -- culture ; institutions ; historical evidence |
| Beschreibung: | 34 S. Kt. |
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| 490 | 1 | |a CESifo working papers |v 3191 : Category 1, Public finance | |
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| indexdate | 2024-07-09T22:47:53Z |
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| spelling | Galasso, Vincenzo 1967- Verfasser (DE-588)122685970 aut When the state mirrors the family the design of pension systems Vincenzo Galasso ; Paola Profeta München CESifo 2010 34 S. Kt. txt rdacontent n rdamedia nc rdacarrier CESifo working papers 3191 : Category 1, Public finance This paper studies the transmission mechanism from family culture to economic institutions, by analyzing the impact of the within family organization on the original design of the public pension systems. We build a simple OLG model with families featuring either weak or strong internal ties. When pensions systems are initially introduced, in society with strong ties they replicate the tight link between generations by providing earnings related benefits; whereas in societies with weak family ties they only act as a safety net. To test this transition mechanism, we consider Todd (1982) historical classification of family types across countries. We find that in societies dominated by absolute nuclear families (i.e., weak family ties), pension systems act as a flat safety net entailing a large within-cohort redistribution, and viceversa in societies characterized by stronger family ties where pension systems are more generous. This link between the type of families and the design of pension systems is robust to testing for alternative explanations, such as legal origin, religion, urbanization and democratization of the country at the time of their introduction. Interestingly, historical family types matter for explaining the design of the pension systems, which represents a persistent feature, but not their size, which have largely changed over time. -- culture ; institutions ; historical evidence Profeta, Paola 1972- Verfasser (DE-588)128503343 aut CESifo working papers 3191 : Category 1, Public finance (DE-604)BV013978326 3191 http://www.ifo.de/portal/page/portal/ifoHome/b-publ/b3publwp/_wp_abstract?p_file_id=17861 http://www.ifo.de/pls/guestci/download/CESifo%20Working%20Papers%202010/CESifo%20Working%20Papers%20September%202010/cesifo1_wp3191.pdf kostenfrei Volltext |
| spellingShingle | Galasso, Vincenzo 1967- Profeta, Paola 1972- When the state mirrors the family the design of pension systems CESifo working papers |
| title | When the state mirrors the family the design of pension systems |
| title_auth | When the state mirrors the family the design of pension systems |
| title_exact_search | When the state mirrors the family the design of pension systems |
| title_full | When the state mirrors the family the design of pension systems Vincenzo Galasso ; Paola Profeta |
| title_fullStr | When the state mirrors the family the design of pension systems Vincenzo Galasso ; Paola Profeta |
| title_full_unstemmed | When the state mirrors the family the design of pension systems Vincenzo Galasso ; Paola Profeta |
| title_short | When the state mirrors the family |
| title_sort | when the state mirrors the family the design of pension systems |
| title_sub | the design of pension systems |
| url | http://www.ifo.de/portal/page/portal/ifoHome/b-publ/b3publwp/_wp_abstract?p_file_id=17861 http://www.ifo.de/pls/guestci/download/CESifo%20Working%20Papers%202010/CESifo%20Working%20Papers%20September%202010/cesifo1_wp3191.pdf |
| volume_link | (DE-604)BV013978326 |
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