This paper conducted a quantitative assessment based on a simulation analysis of what impact the reformed Korean National Pension Act on July 2007 could bring on its sustainability, equity, and adequacy, and then it inquires into policy implications for further evelopment of the system. Overall,...

Population aging will be a major determinant of long-run economic development in industrial and developing countries. The extent of the demographic changes is dramatic in some countries and will deeply affect future labor, financial and goods markets. The expected strain on public budgets and...

Die steigende Nachfrage nach Gesundheitsleistungen und die abnehmende Zahl der Beitragszahler setzen das Gesundheitswesen unter wachsenden Finanzierungsdruck. In zahlreichen Regionen, wo der demographische Wandel besonders ausgeprägt verläuft, wird er die Tragfähigkeit des Systems gefährden....

One consequence of demographic change is substantial shifts in the age distribution of the working age population. As the baby boom generation ages, the usual historical pattern of there being a high ratio of younger workers relative to older workers is increasingly being replaced by a pattern...

An ageing population is prompting the reform of pension systems. The Spanish pension system has undergone two consecutive reforms and a third one is currently being taking into consideration. All three involve the lengthening of the period used to calculate the size of pensions. This paper...

This paper provides a demographic outlook of the Euro-Mediterranean region and then shows the economic and fiscal consequences of such demographic differences within a two-region model with international labor mobility. International labor mobility is also examined through an externalities...

This paper investigates the relationship between wealth, ageing and saving behaviour of private households by using pooled cross sections of German consumption survey data. Different components of wealth are distinguished, as their impact on the savings rate is not homogeneous. On average, the...

This paper attempts to estimate the impact of population ageing on house prices. There is considerable debate about whether population ageing puts downwards or upwards pressure on house prices. The empirical approach differs from earlier studies of this relationship, which are mainly regression...

Pension prefunding can be used to smoothe contribution rates in economies where ageing will increase pension expenditure. But how extensive should prefunding be, in a defined benefit pension system, when there is considerable uncertainty concerning future mortality, fertility, and migration? We...

Väestön ikääntyminen vaikuttaa talouteen paitsi suoraan markkinareaktioiden, kuten korkeampien palkkojen kautta, mutta myös epäsuorasti julkisen talouden kautta. Jälkimmäisiä vaikutuskanavia edustavat nousevien veroasteiden tuottamat käyttäytymismuutokset ja julkisen sektorin...