This paper examines economic challenges posed by the combination of an ageing and declining population in Hungary and develops policy-oriented recommendations for addressing them. The authors identify the scale and specific properties of the demographic problem in Hungary where the population...

Population ageing will reduce economic growth and increase the amount of resources that need to be transferred to the elderly, putting pressure on retirement-income- and healthcare insurance systems. The Netherlands is better placed than most OECD countries to meet these pressures because it has...

Public pay-as-you-go pensions still form the dominant pillar of old-age provision in Germany. This is in marked contrast to the situation in Anglo-Saxon countries. It has advantages if labour markets are strong, e.g., following a quick recovery from the Great Recession. It has disadvantages, as...

The Croatian system of old-age provision comprises a traditional public pay-as-you-go scheme and a mandatory funded scheme ("second pillar") that will provide increasing amounts of supplementary pensions to those entering retirement in the future. Due to the continuing economic crisis, the...

We study, both empirically and quantitatively, the role of savings and the labor supply inself-insurance channels over the life cycle when one faces not only idiosyncratic income risks, but also changes in longevity risk and pension benefits. We pick China as a case study since China has...

Concerns over the adequacy of low and middle-income earner contributions to retirement plans have led governments to introduce targeted matching schemes. In this study, we examine the effects of a simple and generous Australian scheme using administrative tax-filer data, exploiting longitudinal...

Concerns over the adequacy of low and middle-income earner contributions to retirement plans have led governments to introduce targeted matching schemes. In this study, we examine the effects of a simple and generous Australian scheme using administrative tax-filer data, exploiting longitudinal...

We use an overlapping generations model to study the challenge in developing countries with a large informal sector and aging population. We use Thailand as a case study and incorporate its labor market structure and its public pension system into the calibrated model. Unlike developed...

Across the world, pension systems and their reforms are in a constant state of flux driven by shifting objectives, moving reform needs, and a changing enabling environment. The ongoing worldwide financial crisis and the adjustment to an uncertain “new normal” will make future pension systems...

The aging of the American population will be a critical public policy issue in the years ahead. This paper surveys the recent literature on the economics of aging, with a special emphasis on government spending on the aged. The U.S. Census Bureau projects that the proportion of the elderly in...