The paper discusses similarities and differences between NDC and the French and German point systems. The study focuses on how these systems differ when there is an external shock (demographic, economic, or other) and discusses the possible consequences of moving from the point system to NDC....

This paper discusses the impact of aging on the financial equilibrium of the Tunisian retirement system and the macroeconomic implications of reform, including a partial switch to pre-funding. We use a stylized, closed economy and an overlapping-generation model to analyze the impact of the...

This paper assesses the impact on growth and the inter-generational redistributive effects of some possible pension reforms in France using a dynamic general equilibrium model with overlapping generations. Results suggest that a reform increasing the effective average retirement age by 1.25...