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Weikard, H. A Rights-egalitarian Pay-as-you-go Pension System. Journal of Contextual Economics – Schmollers Jahrbuch, 124(3), 355-369.
Weikard, Hans-Peter "A Rights-egalitarian Pay-as-you-go Pension System" Journal of Contextual Economics – Schmollers Jahrbuch 124.3, 2004, 355-369.
Weikard, Hans-Peter (2004): A Rights-egalitarian Pay-as-you-go Pension System, in: Journal of Contextual Economics – Schmollers Jahrbuch, vol. 124, iss. 3, 355-369, [online]


A Rights-egalitarian Pay-as-you-go Pension System

Weikard, Hans-Peter

Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 124 (2004), Iss. 3 : pp. 355–369

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Weikard, Hans-Peter


This paper addresses the problem of intergenerational and intragenerational distribution in a pay-as-you-go pension system. While each generation pays the pensions of the preceding generation, they also bear the burden of raising the next. The burden of child care is unevenly distributed within a generation. Demographie change affects the distribution across generations. To resolve both distributional issues this paper proposes to apply the rights-egalitarian sharing rule. Under this rule individual claims are fully respected; all gains or losses are divided equally. lt can be shown that a rights-egalitarian pension system implements füll compensation for human capital investments in a long-run equilibrium.