?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=http%3A%2F%2Feprints.imtlucca.it%2F2951%2F&rft.title=Myopic+Behavior+and+International+Social+Security+Coordination&rft.creator=Wen%2C+Xue&rft.subject=HJ+Public+Finance&rft.description=In+a+standard+two-period+overlapping+generations+model%2C+two+symmetric+countries+are+involved%2C+each+with+a+PAYG+pension+system.+This+paper+investigates+the+effects+of+myopic+saving+behavior+on+the+optimal+pension+policy+and+the+capital+accumulation+under+both+non-cooperative+and+cooperative+schemes.+Both+the+cases+when+pension+authority+maximizes+the+welfare+function+with+only+the+current+welfare+of+the+living+generations+(myopic+authority)+and+when+it+maximizes+the+lifetime+welfare+of+the+living+generations+are+considered+(farsighted+authority).+International+cooperation+among+national+pension+authorities+boosts+capital+accumulation+when+the+international+authorities+are+myopic.+Moreover%2C+the+welfare+gain+from+cooperation+decreases+with+the+size+of+the+myopic+agents+in+the+economy.+When+the+pension+authorities+are+farsighted%2C+international+cooperation+not+necessarily+depresses+capital+accumulation.+However%2C+if+there+are+enough+myopic+agents+in+the+economy%2C+international+cooperation+also+boosts+capital+accumulation.&rft.date=2015-12&rft.type=Working+Paper&rft.type=NonPeerReviewed&rft.identifier=++Wen%2C+Xue++Myopic+Behavior+and+International+Social+Security+Coordination.++Working+Paper+++++++(Submitted)+++&rft.relation=http%3A%2F%2Fpapers.ssrn.com%2Fsol3%2Fpapers.cfm%3Fabstract_id%3D2698016