Rahman, Muhammad - Center for Applied Economics and Policy Research … - 2008
output under all arrangements. Pay-as-you-go-De?ned Bene?t system appears to fare better than all other alternatives, falling …, Life-cycle model, Annuity market,
Pay-as-you-go, Fully funded, De�ned bene�t, De�ned contribution.
1 Introduction
In this … developed by Gertler(1999). Population growth dampens savings
and output under all arrangements. Pay-as-you-go-De�ned Bene …