¿Quién paga los platos rotos?: el sistema pensional colombiano a través de un modelo de generaciones traslapadas

This paper examines the medium and long-term general equilibrium economic implications of the current regulations of the Colombian pension system and the effects of reform scenarios on different generations. This analysis takes as a reference an overlapping generations model applied for Colombia. In this model, the government increases the consumption tax rate to cover the pension system's deficit, generating a decrease in the economy's aggregate consumption in the years of greatest fiscal pressure on the system. Three reform scenarios are studied: financing the deficit with debt, increasing the pension contribution and increasing the income tax rate; subsequently, the effect of each of them on the welfare of different generations is analyzed. In this model, financing the deficit through debt improves the welfare of current cohorts but decreases the welfare of later cohorts. Increasing the contribution to the pension system improves the welfare of the later cohorts at the expense of those living through the transition of the reform. Finally, a permanent increase in the income tax rate has a differential effect on each regime, since it increases the welfare of households affiliated to the RPM but decreases the welfare of those affiliated to the RAIS.

• Autores: Echeverry López, Nicolás
• Fecha de publicación: 2021
• Institución: Universidad de los Andes
• Repositorio: Séneca: repositorio Uniandes
• Idioma: spa
• OAI Identifier: oai:repositorio.uniandes.edu.co:1992/50884
• Acceso en línea: http://hdl.handle.net/1992/50884
• Palabra clave: Pensiones a la vejez; Pensiones; Economía
• Rights: openAccess
• License: http://creativecommons.org/licenses/by-nc-nd/4.0/