Effects of the public sector downsizing on social security and public finance

Ioannis Vogiatzis; Costas Siriopoulos; Nikolaos Frangos

This paper presents the results of the actuarial valuation method Projected Unit Credit ("benefits/years of service") in order to assess the effects of the public sector downsizing on real economy and social security in Greece, using a prototype data set. We found a social security loss of about 1.3 bn.€, and the effect on the GDP is estimated -13.6 bn.€ (or -7%). We also report a decrease in the direct income by 6.1 bn.€.

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Year of publication:	2014
Authors:	Vogiatzis, Ioannis ; Siriopoulos, Costas ; Frangos, Nikolaos
Published in:	Spoudai : journal of economics and business. - Peiraiōs : Panepistēmion, ISSN 2241-424X, ZDB-ID 2741596-X. - Vol. 64.2014, 1, p. 53-62
Subject:	Projected Unit Credit Method \| Public Sector Downsizing \| Pensions \| Social Security \| Öffentlicher Sektor \| Public sector \| Gesetzliche Rentenversicherung \| Public pension system \| Soziale Sicherheit \| Social security \| Theorie \| Theory \| Personalabbau \| Downsizing (Staff) \| Öffentliche Finanzen \| Public finance

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Extent:	graph. Darst.
Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Other identifiers:	hdl:10419/169148 [Handle]
Classification:	c58 ; H55 - Social Security and Public Pensions
Source:	ECONIS - Online Catalogue of the ZBW

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