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 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...

This paper explores the forecasting abilities of Markov-Switching models. Although MS models generally display a superior in-sample fit relative to linear models, the gain in prediction remains small. We confirm this result using simulated data for a wide range of specifications. In order to...