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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 impact of rapid aging and pension reform on savings and the labor supply : the case of China

He, Hui; Ning, Lei; Zhu, Dongming - 2019

We study, both empirically and quantitatively, the role of savings and the labor supply in self-insurance channels over … social security benefits for the period 1995-2009. We find that both savings and the labor supply are quantitatively … adjustment to savings and labor supply have significant macroeconomic implications. Applying the model to China, we find that the …

Persistent link: https://www.econbiz.de/10012009609

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

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

Migration and Pension

Tsadḳah, Efrayim - 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

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

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

Optimal Fiscal Policy and Government Provision of Contingent Liabilities : The Example of Government Loan and Deposit Guarantees

International Monetary Fund - 1989

The optimal provision of loan guarantees or deposit insurance is examined in the context of an overlapping generations model. It is demonstrated that even in the face of a market imperfection that precludes diversification of the private sector’s loan portfolio to eliminate risk, full...

Persistent link: https://www.econbiz.de/10014395814

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

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