Pereira, Joana; Karam, Philippe D; Muir, Dirk; … - International Monetary Fund (IMF) - 2010
The paper explores the macroeconomic effects of three public pension reforms, namely an increase in retirement age, a reduction in benefits and an increase in contribution rates. Using a five-region version of the IMF‘s Global Integrated Monetary and Fiscal model (GIMF), we find that...