Question 1: Short questions (a) "In a dynamically inefficient economy it is Pareto-improving to move from a PAYG to a fully-funded pension system." True or false? Explain with the aid of a figure. (b) Consider an economy with a defined-contribution PAYG pension system and assume that there is a new baby boom. Show what happens to the economy at impact, over time, and in the long run as a result of this baby boom. Explain the intuition. (c) "PAYG pensions are Pareto efficient." True or false? Explain.

Question 1: Short questions (a) "In a dynamically inefficient economy it is Pareto-improving to move from a PAYG to a fully-funded pension system." True or false? Explain with the aid of a figure. (b) Consider an economy with a defined-contribution PAYG pension system and assume that there is a new baby boom. Show what happens to the economy at impact, over time, and in the long run as a result of this baby boom. Explain the intuition. (c) "PAYG pensions are Pareto efficient." True or false? Explain.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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