The extension of social security coverage in developing countries

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dc.contributor.authorJung, Juergen
dc.contributor.authorTran, Chung
dc.contributor.departmentTowson University. Department of Economicsen_US
dc.date.accessioned2018-05-16T15:07:39Z
dc.date.available2018-05-16T15:07:39Z
dc.date.issued2011-11-08
dc.description.abstractWe study the dynamic general equilibrium effects of introducing a social pension pro- gram to elderly informal sector workers in developing countries who lack formal risk sharing mechanisms against income and longevity risk. To this end, we formulate a stochastic dynamic general equilibrium model that incorporates defining features of developing countries: a large informal sector, private transfers as an informal safety net, and a non-universal social security system. We find that the extension of retirement benefits to informal sector workers results in efficiency losses due to adverse effects on capital accumulation and the allocation of resources across formal and informal sectors. Despite these losses recipients of social pensions experience welfare gains as the positive insurance effects attributed to the extension of a social insurance system dominate. The welfare gains crucially depend on the skill distribution, private intra-family transfers and the specific tax used to finance the expansion.en_US
dc.description.urihttps://ideas.repec.org/p/tow/wpaper/2011-06.htmlen_US
dc.formatapplication/pdf
dc.format.extentarticlesen_US
dc.identifierdoi:10.13016/M27S7HW1R
dc.identifier.citationJuergen Jung & Chung Tran, 2011. "The Extension of Social Security Coverage in Developing Countries," Working Papers 2011-06, Towson University, Department of Economics, revised Nov 2011.en_US
dc.identifier.otherJEL: E6
dc.identifier.otherJEL: E21
dc.identifier.otherJEL: E26
dc.identifier.otherJEL: H30
dc.identifier.otherJEL: H53
dc.identifier.otherJEL: H55
dc.identifier.otherJEL: I38
dc.identifier.otherJEL: O17
dc.identifier.urihttp://hdl.handle.net/11603/10761
dc.language.isoen_USen_US
dc.publisherTowson University. Department of Economicsen_US
dc.relation.isAvailableAtTowson University
dc.relation.ispartofseriesTowson University Department of Economics Working Paper Series;2011-06
dc.subjectInformal sector (Economics)en_US
dc.subjectFamily social safety netsen_US
dc.subjectSocial pensionen_US
dc.subjectEquilibrium (Economics)en_US
dc.subjectWelfareen_US
dc.titleThe extension of social security coverage in developing countriesen_US
dc.typeTexten_US

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