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A framework for assessing the costs of pension reform reversals

Baksa, Daniel; Munkacsi, Zsuzsa; Nerlich, Carolin - 2020

Several European countries are currently considering reversing parts of their pension reforms that were adopted previously to improve sustainability. In this paper we present a framework that allows us to quantify the macroeconomic and fiscal costs of such reversals. We thereby integrate the...

Persistent link: https://www.econbiz.de/10012299350

Demographics, pension systems and the saving-investment balance

Chai, Hua; Kim, Jun-il - 2018

This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic...

Persistent link: https://www.econbiz.de/10011978553

The Intragenerational Redistributive Effects of Unfunded Pension Programs

Cubeddu, Luis M. - 1998

This paper provides a quantitative evaluation of the intracohort redistributive elements of the U.S. social security system in the context of a computable general equilibrium model. It determines how the well-being of individuals that differ by gender, race, and education is affected by the...

Persistent link: https://www.econbiz.de/10014400168

Macroeconomic Effects of Public Pension Reforms

Pereira, Joana - 2010

accumulation due to higher world savings. An increase in the retirement age reform yields the strongest impact in the short run …

Persistent link: https://www.econbiz.de/10014403093

Migration and Pension

Sadka, Efraim - 1998

Migrants, being relatively low earners, are net beneficiaries of the welfare state. However, this paper uses a dynamic model to show that because of migrants’ positive influence on the pension system, which is an important pillar of any welfare state, migration could be beneficial to all...

Persistent link: https://www.econbiz.de/10014401510

Demographics, old-age transfers and the current account

Dao, Mai; Jones, Callum - 2018

-run capital flows in both theory and in the data. For this purpose, we develop a two region overlapping generations model where …

Persistent link: https://www.econbiz.de/10011978549

The Aging of the Population and the Size of the Welfare State

Swagel, Phillip - 2002

Data for the United States and countries in Western Europe indicate a negative correlation between the dependency ratio and both labor tax rates and the generosity of social transfers, after controlling for other factors that influence the size of the welfare state. This is despite the increased...

Persistent link: https://www.econbiz.de/10014399587

Pension Reform, Private Saving, and the Current Account in a Small Open Economy

Schimmelpfennig, Axel - 2000

The macroeconomic implications of a pension reform that substitutes a high-return fully-funded system for a low-return pay-as-you-go system are discussed in an overlapping generations, neoclassical growth model. With forward-looking individuals, a debt-financed reform worsens the current...

Persistent link: https://www.econbiz.de/10014403806

Mortgage Market Development, Savings, and Growth

Li, Xiaowei - 2001

Jappelli and Pagano (1994) argues that tightening the borrowing constraints in the mortgage markets promotes savings …. Employing a six-period overlapping generations model with endogenous growth and a method of simulation calibrated on the Middle … savings and growth rates to fall. Therefore, for countries with scarce mortgage availability like those in the Middle East …

Persistent link: https://www.econbiz.de/10014403815

Generational Accounts, Aggregate Savings, and Intergenerational Distribution

Buiter, Willem H. - 1996

Are generational accounts informative about the effect of the budget on the intergenerational distribution of resources and on aggregate saving? First, the usefulness of generational accounts lives or dies with the strict life-cycle model of household consumption. Second, even if the life-cycle...

Persistent link: https://www.econbiz.de/10014397511

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