caa a22 4500 477078494 CHVBK 20180405111444.0 cr unu---uuuuu 170330e19960601xx s 000 0 eng 10.1007/BF00118653 doi (NATIONALLICENCE)springer-10.1007/BF00118653 Public pensions and immigration policy in a democracy [Elektronische Daten] [Ulrich Scholten, Marcel Thum] The paper analyzes the link between the public pension system and the immigration policy. In a pay-as-you-go system, the incentives for immigration vary significantly between individuals at different lifetime periods. In the framework of an overlapping generations model, we show that the median voter's choice in general leads to inefficient levels of immigration. The median voter neglects the effects of the externalities within the pension system on other generations. An immigration policy that is not affected by the median voter's choice but instead is constitutionally determined will avoid welfare losses. The expected lifetime income of each generation can be increased by applying a rule of steady immigration. Kluwer Academic Publishers, 1996 Scholten Ulrich Lehrstuhl für Nationalökonomie und Finanzwissenschaft, University of Munich, Schackstrasse 4, 80539, München, Germany aut Thum Marcel Princeton University, 08544, Princeton, New Jersey, U.S.A. aut Public Choice Kluwer Academic Publishers; http://www.wkap.nl 87/3-4(1996-06-01), 347-361 0048-5829 87:3-4<347 1996 87 11127 https://doi.org/10.1007/BF00118653 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF00118653 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Scholten Ulrich Lehrstuhl für Nationalökonomie und Finanzwissenschaft, University of Munich, Schackstrasse 4, 80539, München, Germany aut NATIONALLICENCE 700 1- Thum Marcel Princeton University, 08544, Princeton, New Jersey, U.S.A aut NATIONALLICENCE 773 0- Public Choice Kluwer Academic Publishers; http://www.wkap.nl 87/3-4(1996-06-01), 347-361 0048-5829 87:3-4<347 1996 87 11127 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer