Public Sector Pension Policies and Capital Accumulation in an Emerging Economy: The Case of Brazil
In many emerging economies such as Brazil, pension programs of public sector workers are more generous than pension programs of private sector workers. The opportunity costs of running generous public pension schemes for civil servants are potentially large in emerging economies that often suffer from low public investments in education and infrastructure. In this paper, we develop a two-sector dynamic general equilibrium framework to quantify these opportunity cost effects. We find that the...[Show more]
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|Source:||The BE Journal of Macroeconomics|
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