In this paper, we explore the links between pension reform, early retirement, and the use of unemployment as an alternative pathway to retirement. We use a dynamic rational expectations model to analyze the search and retirement behaviour of employed and unemployed workers aged 50 or over. The...

In this paper we study the consequences of a hypothetical multi-pillar pension system in Peru. We use unique administrative records of workers to estimate distributions of future pensions for the actual and multi-pillar system and assess the effects on pension inequality, pension liability and...

This paper deals with pension reform’s effect on Latvian savings. We are studying the reaction of total savings and their components on change in the fully funded pillar’s share in the total pension system and on increase of the retirement age using overlapping generations model with many...

The paper analyzes the Bolivian experience in switching from an old publicly managed pay-as-you-go pension system to a privately managed, fully funded pension system.

Estonia completed its pension system reforms in 2002. The new 3-pillar system features a first pillar of universal state pension, a second pillar of funded supplementary pension and a third pillar of independent pension savings. The paper reviews the new pension system and the early experience....

The demographic change that is lived worldwide, and of particular form in Europe, as consequence of the aging of the population because of the increase of the life expectancy and the drastic reduction of the rates of fertility, has made jump the alarms because of the need to get a suitable...

While numerous Western countries first experienced cultural rationalization, next economic modernization, and then faced the challenges of population aging and pension policy reform, both Latin America and China, in contrast, are dealing with these challenges in the context of much less...

This paper investigates the dynamic consequences of demographic change and various pension reform scenarios for Austria. The analysis is based on a computable overlapping generations model with life-cycle labor supply, savings, and search unemployment. The public sector is decomposed into...

Im vorliegenden Artikel wird gezeigt, wie eine Flexibilisierung des Renteneintritts erreicht werden kann, ohne die Versichertengemeinschaft zu schädigen. Die Flexibilisierung wird ermöglicht, indem wie im heutigen Umlageverfahren Zu- und Abschläge von der gesetzlichen Rente ermittelt werden....