worker's myopia. (i) For a complete myope, he determined a sizable optimal tax rate (and the corresponding benefit level …

-as-you-go pensions. In that case, sufficently-strong myopia may justify such pensions only if agents cannot borrow against their future … pension, and are at a zero-saving corner. With enough myopia, co-existence of positive optimal pensions and positive private … important, rationale for social security retirement systems." This paper revisits the role played by myopia in generating a …

myopia may justify public pensions but never alongside positive private savings. With sufficient myopia, co-existence of …This paper revisits the role played by myopia in generating a theoretical rationale for pay-as-you-go social security … positive optimal pensions and positive private saving is possible if the real interest rate on saving evolves endogenously, as …