Topic: Can Pension-Reform Uncertainty Be Desirable? The Case of China
Time: 08:00-10:00 a.m. April 29, 2021
Venue: Conference Room 127, Wenqin Building
Host: Professor Lu Yuanping
Guest Speaker: Dr Liu Qing of Iowa State University
In the years ahead, budgetary pressures are projected to strain the Chinese pension system. Such stresses will likely precipitate further reform, but the scale and timing of such reform remain uncertain. How will the aging, soon-to-retire generations respond to this uncertainly? How will their children? This paper studies the welfare effects of future pension-reform risk in a multicohort overlapping-generations economy characterized by an intergenerational human capital externality and endogenous, altruistically motivated, within-family intergenerational transfers.