Political Preferences and the Aging of Populations: Political-economy Explanations of Pension Reform
By Oliver Pamp Oliver Pamp analyzes the likelihood and extent of pension reforms from a political-economy perspective. It is shown that voters preferences for or against reforms are influenced by a societies demographic development, the generosity of its existing public pension scheme and its electoral system. The author extensively reviews existing formal models of pension systems, discusses their merits and limitations, and develops a three-period overlapping generations model. The models insights regarding individual reform preferences are then put into the...