Social security pension and redistribution : A study on dynamic political economy

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This research belongs to the growing literature on dynamic political economy. This research focuses on the borrowing constraint and trade, and investigates the interaction between endogenous determination of social security pension, redistribution policy and macroeconomic performance such as income inequality. As a result of analysis, I find that the borrowing constraint and trade change the voting behavior of agents, and let the size of social security pension and redistribution become estranged from an effective size in the equilibrium.