Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the … challenge is generally to contain future increases in public pension spending as the population ages. In emerging market … economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced …

This paper evaluates the macroeconomic and welfare effects of extending the averaging period used to calculate pension … those increasing the retirement age under alternative tax policies. The analysis is based on a model in the Auerbach …-Kotlikoff tradition applied to the Spanish economy. Without reforms, the simulations suggest that aging-related spending as a share of …

The paper explores the macroeconomic effects of three public pension reforms, namely an increase in retirement age, a … Monetary and Fiscal model (GIMF), we find that public pension reforms can have a positive effect on growth in both the short … stronger capital accumulation due to higher world savings. An increase in the retirement age reform yields the strongest impact …

The present paper reviews key issues in pension design and pension reform encountered all across the world. The paper … heavily refers to the recent U.S. Social Security reform debate in general and to the Personal Retirement Accounts proposal in … retirement. …

performance and the macroeconomic implications of remittances. It then looks at the sustainability of pension systems, financial …

This paper reviews macroeconomic aspects of pension reforms in Latin America, focusing on financial market stability … and fiscal sustainability. Concentration of pension fund portfolios in government bonds remains high, and the lack of new …

This Selected Issues paper on Chile assesses the long-term outlook of Chile’s private pension system. The paper …

The rapid aging of China's population over the next few decades makes it important for a new pension system with broad … and adequate coverage to be put in place quickly. Pension reforms, first initiated in 1997, have become bogged down in … system. This paper argues that a way forward is to separate the legacy problem from the problem of setting up a new pension …