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We evaluate the welfare and macroeconomic effects of increasing the retirement age in the context of population aging … is universally welfare enhancing for all living and future cohorts, regardless of the pension system. Quantitatively … our findings in a population with lower pace of aging due to higher fertility. Finally, we show scope for further welfare …
Persistent link: https://www.econbiz.de/10010765694
shows how the current tax, welfare, and pension systems create disincentives to work among these groups. The paper finds …
Persistent link: https://www.econbiz.de/10005605130
Persistent link: https://www.econbiz.de/10013358872
This paper examines Colombia’s 2002 Article IV Consultation and Request for Stand-By Arrangement. The economic situation worsened in the first half of 2002. Economic activity has remained sluggish, and the fiscal consolidation has gone off-track. Exacerbated by increased contagion from...
Persistent link: https://www.econbiz.de/10005824881
This 2005 Article IV Consultation highlights that economic activity in Austria gathered speed in 2004, supported mostly by strong export performance. Growth of real GDP rose to 2.2 percent in 2004. Consumption growth was modest, in view of small gains in employment and nominal wage growth barely...
Persistent link: https://www.econbiz.de/10005824962
This 2005 Article IV Consultation for Ireland reports that economic performance has been impressive, owing in significant measure to sound policies. In line with the global cycle, growth picked up strongly in 2004. Rapid employment growth has been supported by immigration, so the unemployment...
Persistent link: https://www.econbiz.de/10005824998
The government’s strong monetary and fiscal policy framework, as well as the structural reforms introduced, have enabled the Canadian economy to respond flexibly to recent shocks and laid a solid foundation for recovery. Macroeconomic policies should remain supportive, with fiscal policy...
Persistent link: https://www.econbiz.de/10005825023
This Selected Issues paper on Panama explores the current situation and trends of the Caja del Seguro Social (CSS) in Panama. The autonomy is embedded in its Organic Law, which also provides the agency with the right to have separate funds from the central government. The slowdown in economic...
Persistent link: https://www.econbiz.de/10005825098
This 2004 Article IV Consultation highlights that a cyclical recovery is under way for Italy, with real GDP having risen by 1.2 percent in the first three quarters of 2004 relative to the same period of the previous year, thanks to the favorable external environment and a recovery of investment....
Persistent link: https://www.econbiz.de/10005825131
This Selected Issues paper of the United Kingdom analyzes the official projections of public pension spending and risks, as well as the strategy to increase private pension provision. It provides a comparison of stylized facts regarding business cycle developments in the three economies, and an...
Persistent link: https://www.econbiz.de/10005825234