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The valuation and redistribution effect of the korea national pension

Title
The valuation and redistribution effect of the korea national pension
Authors
Yoonkyung Y.U.H.Yang J.
Ewha Authors
여윤경
SCOPUS Author ID
여윤경scopus
Issue Date
2011
Journal Title
Hitotsubashi Journal of Economics
ISSN
0018-280XJCR Link
Citation
vol. 52, no. 1, pp. 113 - 142
Indexed
SSCI; SCOPUS scopus
Abstract
This paper evaluates the Korea National PensionKNP and investigates its redistribution effects. The educational level is used as a proxy for mortality and various socioeconomic factors are considered. The financial and utility-based analyses reveal strong progressive redistribution with income level. Also, the utility-based analysis indicates significant progressive redistribution with non-pension asset level but no significant redistribution with the educational level. Generally, the KNP is extremely valuable and its value seems higher with a pre-existing private annuity especially for the poor. Finally, when people are assumed to spend at least the minimum consumption level, it becomes more beneficial. Hitotsubashi University.
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경영대학 > 경영학전공 > Journal papers
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