This paper investigates the international spillovers of government debt and the associated risk of inflation within a monetary union when countries have different pension systems. I use a stochastic two-country two-period overlapping-generations model, where one country has PAYG pensions and the...

Variations among the diverse pension systems in the member states of the European Union (EU) hamper labor market mobility across national borders and also among firms within the countries of the EU. From a macroeconomic perspective, and in the light of demographic pressure, this paper argues...

Rapid population ageing and economic transformation in Asia raise the policy challenge of ensuring income security in old age. There is growing interest among policymakers in the potential role of noncontributory transfers as an instrument to address a variety of policy challenges, including old...

Old-age income support is becoming an issue of growing importance throughout Asia. This is especially true in East and Southeast Asia where the population is aging. This paper provides a broad overview of the current state of pension systems in the People's Republic of China, Indonesia, Republic...

We describe the complex support systems in Asia and highlight their importance for economic growth and fiscal sustainability. Familial transfers for old age support are significant in many Asian economies, though their extent varies quite widely, and public transfer systems are less significant....

Asia as a whole is experiencing a rapid demographic transition toward older populations, though different countries are at different stages of this region- wide trend. We document Asia's aging population, describe the region's old-age support systems, and highlight the regional socioeconomic...