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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
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Demographics, old-age transfers and the current account
Dao, Mai; Jones, Callum - 2018
Building on the evolving literature on the topic, this paper reviews the relationship between demographics and long-run capital flows in both theory and in the data. For this purpose, we develop a two region overlapping generations model where countries differ in their population growth and...
Persistent link: https://www.econbiz.de/10011978549
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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
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Aging, Savings, and Pensions in the Group of Seven Countries: 1980-2025
International Monetary Fund - 1989
the elderly. This study suggests that these demographic trends may lead to a decline in the G-7 private savings rate after …
Persistent link: https://www.econbiz.de/10014396157
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Assessing Chile's pension system : challenges and reform options
Evans, Christopher; Pienknagura, Samuel - 2021
Persistent link: https://www.econbiz.de/10012796753
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Reforming the Greek pension system
Kangur, Alvar; Kalavrezou, Niki; Kim, Daehaeng - 2021
The Greek pension system has been costly, complex, and distortive, which has contributed to Greece's fiscal problems and discouraged labor force participation. Several attempts to reform the system faltered due to lack of implementation, pushback by vested interests, and court rulings leading to...
Persistent link: https://www.econbiz.de/10012605604
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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
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Informality and the challenge of pension adequacy : outlook and reform options for Peru
Freudenberg, Christoph; Toscani, Frederik - 2019
Past reforms have put the Peruvian pension system on a largely fiscally sustainable path, but the system faces important challenges in providing adequate pension levels for a large share of the population. Using administrative microdata at the affiliate level, we project replacement rates in the...
Persistent link: https://www.econbiz.de/10012102092
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Reform options for mature defined benefit pension plans : the case of the Netherlands
Gérard, Marc - 2019
The Netherlands has been operating fully funded, defined benefit second pillar pension schemes that have consistently ranked high worldwide for delivering high replacement rates while featuring strong solidarity among members. Yet the long-term sustainability of the Dutch pension funds has been...
Persistent link: https://www.econbiz.de/10012001594
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On financing retirement, health, and long-term care in Japan
McGrattan, Ellen R.; Miyachi, Kazuaki; Peralta-Alva, Adrian - 2018
Japan faces the problem of how to finance retirement, health, and long-term care expenditures as the population ages. This paper analyzes the impact of policy options intended to address this problem by employing a dynamic general equilibrium overlapping generations model, specifically...
Persistent link: https://www.econbiz.de/10011978385