Urban Public Pension, Two-Sector Production and Endogenous Growth

摘要

By employing an endogenous growth model, this paper investigates China's urban public pension system. We examine the effects of the firm contribution rate, individual contribution rate and population growth rate on the economic growth rate, saving rate and education expense ratio. Raising the firm contribution rate decreases the economic growth rate and saving rate, whereas increases the education expense ratio. Raising the individual contribution rate only decreases the saving rate. A rise in the population growth rate decreases the economic growth rate and education expense ratio. The effect of the firm contribution rate on the economic growth rate is much greater than that of the population growth rate, that on the saving rate is smaller than that of the individual contribution rate, and that on the education expense ratio is much smaller than that of the population growth rate. To promote the economic growth, decrease the saving rate and education expense ratio, it is necessary to reduce the firm contribution rate, raise the individual contribution rate and restrain the population growth rate.