Macroeconomic Effects of Pension Reforms in The Context of Ageing Populations : Overlapping Generations Model Simulations for Seven OECD Countries
Ketil Hviding and Marcel Mérette
Using overlapping generations (OLG) models calibrated on seven OECD countries -- the United States, Japan, France, Canada, Italy, the United Kingdom and Sweden -- the authors investigate the macroeconomic impact of possible pension reform strategies as populations age. Simulations include a reduction in the level of pensions, phased abolition of PAYG schemes and general fiscal consolidation. By raising the national saving rate future GDP levels are higher, but not enough to offset the affects of ageing. A rise in the retirement age has larger effects, but implies significant loss of leisure time ...
Year of publication: |
1998
|
---|---|
Authors: | Hviding, Ketil |
Other Persons: | Mérette, Marcel (contributor) |
Publisher: |
Paris : OECD Publishing |
Subject: | OECD-Staaten | OECD countries | Overlapping Generations | Overlapping generations | Rentenreform | Pension reform | Bevölkerungsstruktur | Demographic structure | Rentenfinanzierung | Pension finance | Alternde Bevölkerung | Aging population |
Saved in:
Online Resource