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-Keynesian macroeconomics of pension reform in closed and open economies -- 7. Classical and neoclassical perspectives on the welfare state and …
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this paper is to analyse the potential consequences of a different type of reform that is at a very incipient stage in … Spain but that could have a significant impact if it were fully implemented. This reform, called ‘silent reform’ because it … consequences of this type of reform in Spain. We have used an accounting model with heterogeneous agents and overlapping …
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The paper examines the effects of ageing and makes a case for partial prefunding of pensions. The argument is based on inter-generational fairness in a situation where pension expenditure as compared to wages increases due to low fertility and increasing longevity. We illustrate the approach by...
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