Effects of the Public Sector downsizing on Social Security and public finance

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. - Piraeus : University of Piraeus, ISSN 2241-424X. - Vol. 64.2014, 1, p. 53-62
Publisher:	Piraeus : University of Piraeus
Subject:	Projected Unit Credit Method \| Public Sector Downsizing \| Pensions \| Social Security

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Type of publication:	Article
Type of publication (narrower categories):	Article
Language:	English
Other identifiers:	816588376 [GVK] hdl:10419/169148 [Handle] RePEc:spd:journl:v:64:y:2014:i:1:p:53-62 [RePEc]
Classification:	c58 ; H55 - Social Security and Public Pensions
Source:	EconStor

Persistent link: https://www.econbiz.de/10011725305