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U.S. Consumption after the 2008 Crisis
Lee, Jaewoo; Rabanal, Pau; Sandri, Damiano - International Monetary Fund (IMF) - 2010
U.S. household consumption declined sharply in late 2008, marking a departure from the trend of a steady increase in U.S. consumption as a share of income since the 1980s. Combining econometric and simulation analysis, we estimate that this departure will be sustained beyond the crisis: the U.S....
Persistent link: https://www.econbiz.de/10011142214
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Mexico; Financial Sector Assessment Program Update: Technical Note: The Pension Annuity Market
International Monetary Fund (IMF); International … - 2007
This paper presents a technical note on Mexico’s Financial Sector Assessment Program update. The Mexican experience displays interesting characteristics that provide lessons for other countries that still need to design the decumulation phase of their newly established second pillars. The...
Persistent link: https://www.econbiz.de/10011244170
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Russian Federation; Selected Issues
International Monetary Fund (IMF); International … - 2008
This Selected Issues paper for the Russian Federation discusses existing empirical efforts to measure the determinants of cross-country financial integration. Empirical studies that have adopted the gravity-model framework have found that it is generally successful in explaining bilateral...
Persistent link: https://www.econbiz.de/10011245351
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Northern Star; Canada's Path to Economic Prosperity
Klyuev, Vladimir; Mühleisen, Martin; Bayoumi, Tamim - International Monetary Fund (IMF) - 2007
Robust GDP growth, declining unemployment, low and stable inflation, and a string of fiscal and current account surpluses -- it's a record to be envied. These outcomes in Canada owe much to sound macroeconomic policies, as well as to a favorable external environment. This book focuses on these...
Persistent link: https://www.econbiz.de/10011245903
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Netherlands; Selected Issues
International Monetary Fund (IMF); International … - 1996
and public pensions thus move in lock-step; they are both by law indexed to contract wages in the private sector. This … paper examines the structural policies of the Netherlands. Real wages and employment growth are also analyzed. …
Persistent link: https://www.econbiz.de/10005252658
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Global Aging and Declining World Interest Rates; Macroeconomic Insurance Through Pension Reform in Cyprus
Hoffmaister, Alexander W.; Guajardo, Jaime; Catalán, Mario - International Monetary Fund (IMF) - 2008
) with aging populations? Lower interest rates will result in higher capital-labor ratios and increased wages; higher wages … be stronger if pensions are indexed to nominal wages rather than prices. Using an overlapping generations model, the … wages to prices, provide substantial macro-insurance and shock absorption benefits. …
Persistent link: https://www.econbiz.de/10005263971
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Financial Sustainability and Reform Options for the Albanian Pension Fund
Treichel, Volker - International Monetary Fund (IMF) - 2001
This paper studies the financial sustainability of the Albanian pension fund and assesses possible options for its reform. The paper concludes that the pension fund is not sustainable in its current form and proposes for the urban scheme a combination of parametric changes to the existing...
Persistent link: https://www.econbiz.de/10005264178
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Pension Reform in China; The Need for a New Approach
Dunaway, Steven Vincent; Arora, Vivek B. - International Monetary Fund (IMF) - 2007
The rapid aging of China's population over the next few decades makes it important for a new pension system with broad and adequate coverage to be put in place quickly. Pension reforms, first initiated in 1997, have become bogged down in difficulties over dealing with the "legacy costs"...
Persistent link: https://www.econbiz.de/10005769032
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Coping with Spain's Aging; Retirement Rules and Incentives
Hoffmaister, Alexander W.; Catalán, Mario; Guajardo, Jaime - International Monetary Fund (IMF) - 2007
those increasing the retirement age under alternative tax policies. The analysis is based on a model in the Auerbach … pressures at the peak of the demographic shock as much as increasing the retirement age in line with life expectancy (4 …
Persistent link: https://www.econbiz.de/10005769092
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Aging Populations and Public Pension Schemes
Chand, Sheetal K.; Jaeger, Albert - International Monetary Fund (IMF) - 1996
Persistent link: https://www.econbiz.de/10005590852