Pension system reform : a transitional dynamic study in Chinese case

Abstract

Reforming the social security system has received increasing attention in recent years. In this paper I use a dynamic neoclassical model to study China's pension system switch from Pay-as-you-go system to Fully-Funded individual accounts system. I also examine this pension reform that involves macroeconomic and intergenerational distribution effects and concern on the transition period how government to finance the large fiscal deficit, which arises due to the reform.

Date of Award	2001
Original language	English
Awarding Institution	The Hong Kong University of Science and Technology