Company Pension Plans, Stock Market Returns, and Labor Demand

With asset values falling sharply in recent years, many companies around the world are under pressure to restore the solvency of their defined-benefit pension plans. Will this lead to higher contributions? Will higher contributions increase labor costs and reduce employment? Does this mechanism exacerbate economic downturns? What are the economic effects of pension fund regulation? This paper develops a theoretical model to address these questions. Although its scope is more general, the model captures the main institutional features of the pension system in the Netherlands, a country where the economic effects of the pension shock are widely debated.

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Year of publication:	2003-11-01
Authors:	Detragiache, Enrica
Institutions:	International Monetary Fund (IMF)
Subject:	Stock markets \| Labor market policy \| pension \| pension fund \| pension fund assets \| pension funds \| pension plans \| pensions \| pension plan \| retirement \| capital markets \| pension liabilities \| defined benefit \| pensioners \| company pension \| pension fund contributions \| individual pension \| pension fund contribution \| pension system \| retirement income \| pension fund returns \| pension fund asset \| pension regulation \| pension benefit \| contribution rate \| pension contributions \| asset management \| benefit pension \| defined-benefit pension \| pension reform \| pension obligations \| pension benefits \| pillar pensions \| defined benefit plans \| pension fund investments \| labor force \| occupational pension \| defined contribution plans \| capital gains \| future pension \| private pensions \| pension payment \| pension schemes \| public pensions \| pension funding \| pension fund administrators \| occupational pension plans \| gross wages \| solvency requirement \| pension fund return \| pension fund accounting \| pillar pension \| defined contribution pensions \| additional pension \| retirement age \| contribution pensions \| contingent liability \| individual pensions \| defined benefit plan \| tax treatment \| pension contribution \| pension earnings \| employer pension \| pension insurance \| funded pension \| retirement period \| defined contribution plan \| health care \| corporate pension \| pension costs \| pensioner \| labor input \| pension liability \| pension rights \| replacement rate \| contribution rates \| gross return \| retirement pensions

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Extent:	application/pdf
Series:	IMF Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series IMF Working Papers Number 03/222 1 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005604805