Macroeconomic Effects Of Public Pension Reforms
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Author | : Ms.Anita Tuladhar |
Publisher | : International Monetary Fund |
Total Pages | : 65 |
Release | : 2010-12-01 |
Genre | : Business & Economics |
ISBN | : 1455211788 |
Download Macroeconomic Effects of Public Pension Reforms Book in PDF, Epub and Kindle
The paper explores the macroeconomic effects of three public pension reforms, namely an increase in retirement age, a reduction in benefits and an increase in contribution rates. Using a five-region version of the IMF‘s Global Integrated Monetary and Fiscal model (GIMF), we find that public pension reforms can have a positive effect on growth in both the short run, propelled by rising consumption, and in the long run, due to lower government debt crowding in higher investment. We also find that a reform action undertaken cooperatively by all regions results in larger output effects, reflecting stronger capital accumulation due to higher world savings. An increase in the retirement age reform yields the strongest impact in the short run, due to the demand effects of higher labor income and in the long run because of supply effects.
Author | : Mr.Benedict J. Clements |
Publisher | : International Monetary Fund |
Total Pages | : 86 |
Release | : 2013-01-25 |
Genre | : Business & Economics |
ISBN | : 147556631X |
Download The Challenge of Public Pension Reform in Advanced and Emerging Economies Book in PDF, Epub and Kindle
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 economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.
Author | : Mr.Robert Holzmann |
Publisher | : International Monetary Fund |
Total Pages | : 52 |
Release | : 1996-08-01 |
Genre | : Business & Economics |
ISBN | : 1451950756 |
Download Pension Reform, Financial Market Development, and Economic Growth Book in PDF, Epub and Kindle
The Chilean pension reform of 1981, in which Chile moved from an unfunded to a funded scheme, is considered to have contributed to this country’s excellent economic performance since the mid-1980s. The paper highlights the theoretical underpinnings of the claimed economic effects and presents empirical data and preliminary econometric testing of the conjectured growth, capital formation, and saving effects. The empirical evidence is consistent with most of the claims. In particular, the direct impact of financial market development on private saving is found to be negative, which underscores the importance of sound fiscal policy and public saving to support the transition.
Author | : Klaus Schmidt-Hebbel |
Publisher | : World Bank Publications |
Total Pages | : 92 |
Release | : 1995 |
Genre | : Business & Economics |
ISBN | : 9780821335062 |
Download Colombia's Pension Reform Book in PDF, Epub and Kindle
IFC Lessons of Experience No. 1F. This report reviews the experience of the International Finance Corporation (IFC) in its role as advisor and investor in privatization transactions during the past decade. In pursuit of its mandate to further economic development by encouraging the growth of productive private enterprise in developing countries, the IFC has naturally and increasingly been involved in supporting this movement. The premise of the report is that privatization will always be partly based on political considerations, including expected redistribution of wealth and the resulting winners and losers. It discusses the IFC's experience from two perspectives: as an advisor involved before the sale, which illustrates how the IFC assists in the trade-off between political and economic goals to conclude a deal; and after privatization, which discusses the resulting economic benefits. The IFC asserts that its role in privatization is defined by the evolving frontiers of political commitment. Within those frontiers, it can help expand privatization possibilities by performing advisory assignments, providing necessary investments, and developing capital market institutions. The IFC demonstrates that privatization strategies can assume many forms with few set prescriptions. Other language editions: English (ISBN 0-8213-3447-6) Stock No. 13447 Russian -out of print-(ISBN 0-8213-3545-6) Stock No. 13545 Spanish -out of print-(ISBN 0-8213-3451-4) Stock No. 13451.
Author | : Ketil Hviding |
Publisher | : |
Total Pages | : 42 |
Release | : 1998 |
Genre | : Age and employment |
ISBN | : |
Download Macroeconomic Effects of Pension Reforms in the Context of Ageing Populations Book in PDF, Epub and Kindle
Covers trends since 1954 and provides projections to 2090.
Author | : Frank Eich |
Publisher | : International Monetary Fund |
Total Pages | : 25 |
Release | : 2012-08-01 |
Genre | : Business & Economics |
ISBN | : 1475505515 |
Download Reforming the Public Pension System in the Russian Federation Book in PDF, Epub and Kindle
Pension reform is a key policy challenge in Russia. This paper examines how pension spending could increase in Russia in the absence of reforms, quantifies the impact of some recent proposals, and suggests some alternatives that would ensure public pension benefits - relative to wages - not fall from current levels while containing spending.
Author | : David Hauner |
Publisher | : International Monetary Fund |
Total Pages | : 26 |
Release | : 2008-08 |
Genre | : Business & Economics |
ISBN | : |
Download Macroeconomic Effects of Pension Reform in Russia Book in PDF, Epub and Kindle
Are the current account fluctuations in oil-exporting countries "excessive"? How should their real exchange rate respond to the evolution of external (and domestic) fundamentals? This paper proposes methodologies tailored to the specific features of oil-exporting countries that help address these questions. Price-based methodologies (based on the time series of real effective exchange rates) identify a strong link between the real exchange rate and the terms of trade, but have relatively limited explanatory power. On the other hand, an empirical model of the current account, which fits oil exporting countries' data well, and an intertemporal model that takes into account the stock of oil reserves provide useful benchmarks for oil exporters' external balances.
Author | : Mr.Benedict J. Clements |
Publisher | : International Monetary Fund |
Total Pages | : 86 |
Release | : 2013-01-25 |
Genre | : Business & Economics |
ISBN | : 1616354135 |
Download The Challenge of Public Pension Reform in Advanced and Emerging Economies Book in PDF, Epub and Kindle
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 economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.
Author | : Marta Peris-Ortiz |
Publisher | : Springer Nature |
Total Pages | : 487 |
Release | : 2020-03-20 |
Genre | : Business & Economics |
ISBN | : 3030379124 |
Download Economic Challenges of Pension Systems Book in PDF, Epub and Kindle
This book examines the major economic challenges associated with the sustainability of public pensions, specifically demographic change, labor-market relations, and risk sharing. The issue of public pensions occupies the political and economic agendas of many major governments in the world. International organizations such as the World Bank and the OECD warn that the economic changes driven by an aging society negatively affects the sustainability of pension systems. This book analyzes different global public pension systems to offer policies, methods and tools for sustainable public pensions. Real case studies from France, Sweden, Latin America, Algeria, USA and Mexico are featured.
Author | : International Monetary Fund. Fiscal Affairs Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 72 |
Release | : 2011-12-28 |
Genre | : Business & Economics |
ISBN | : 1498338054 |
Download The Challenge of Public Pension Reform in Advanced and Emerging Economies Book in PDF, Epub and Kindle
This paper reviews past trends in public pension spending and provides projections for 27 advanced and 25 emerging economies over 2011–2050. In constructing these projections, the paper incorporates the impact of recent pension reforms and highlights the key assumptions underlying these projections and associated risks. The paper also presents reform options to address future pension spending pressures in the advanced and emerging economies. These reforms—mainly increasing retirement ages, reducing replacement rates, or increasing payroll taxes—are discussed in the context of their role in fiscal consolidation, and their implications for both equity and economic growth. In addition, the paper examines the challenge of emerging economies of expanding coverage in a fiscally sustainable manner