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Sharing high growth across generations : pensions and demographic transition in China

Song, Zheng ; Storesletten, Kjetil ; Wang, Yikai ; Zilibotti, Fabrizio

Intergenerational inequality and old-age poverty are salient isuues in contemporary China. China's aging population threatens the fiscal sustainability of its pension system, a key vehicle for intergenerational redistribution. We analyze the positive and normative effects of alternative pension reforms, using a dynamic general equilibrium model that incorporates population dynamics and...