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We study the use of pension funds in the Finnish earnings-related pension system with the aim of smoothing contributions over time under demographic and economic risks. Smoothing is affected by the revisions in long-term forecasts and is thus imperfect. As a partially funded defined-benefit...
Persistent link: https://www.econbiz.de/10012037710
This study simulates with two dynamic models the macroeconomic and public finance outcomes of a reduction in the corporate income tax rate in Finland. FOG-model is a dynamic CGE model, which is calibrated to the Finnish economy. NiGEM is a multi-country macroeconometric model. The results show...
Persistent link: https://www.econbiz.de/10012037661
Persistent link: https://www.econbiz.de/10008657875
Persistent link: https://www.econbiz.de/10001728918
Municipal employees and private-sector employees in Finland belong to separate earnings-related pension systems. Both systems are financed by contributions from the payroll, and are mostly pay-as-you-go. Thus if a municipality decides to buy services from the private sector, instead of producing...
Persistent link: https://www.econbiz.de/10012037624
This study analyses the adjustment of the Finnish earnings-related pension system to very low economic growth. The results show that a permanently lower growth rate of the wage bill would raise only moderately the pension contribution rates in the long term. This is because also the benefits are...
Persistent link: https://www.econbiz.de/10012037633
This study analyzes the sustainability implications of demographic and investment risks in the Finnish private sector pension system (TyEL). The results show that current contribution rate is likely to be too low to finance the future higher expenditure. The main sustainability problem is not,...
Persistent link: https://www.econbiz.de/10010273015
Moral hazard means that people with insurance may take greater risks because they know they do not bear the full consequences of their actions. This can occur with both private insurance and social insurance. Deductibles can be used to alleviate the problem. An interesting way to bring...
Persistent link: https://www.econbiz.de/10010273035
changes in living standards following from a death of a breadwinner, including those in household income, consumption …, existing wealth, survivors' pensions and life insurances. For those individuals who have earned income and who live in families … additional life insurance that would retain the consumption possibilities the same as before the breadwinner's death. For those …
Persistent link: https://www.econbiz.de/10014278289
Julkisen talouden rahoituspohjan kestävyys väestön vanhetessa on kiistaton ongelma Suomessa kuten useissa muissakin länsimaissa. Työikäisen väestön väheneminen, työvoiman ikääntyminen ja hyvin vanhojen ihmisten lukumäärän kasvu on vaikea yhdistelmä julkisen talouden kestävyyden...
Persistent link: https://www.econbiz.de/10012147863