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French Public Finances: Modeling Long-Term Prospects and Reform Options

Autor: Habermeier, Karl F.; Lenseigne, Fabrice
Año: 1998
Resumen: Over the coming decades, demographic developments will lead to a significant increase in public outlays on pensions and health care, relative to national income. This study extends earlier work by considering the adverse effects of taxation on the determinants of economic growth -- in particular, investment, productivity growth, and labor force participation. Available empirical evidence suggests that these adverse effects could well be sizable, and that conventional estimates of the adverse effects of population aging probably severely underestimate their impact on the public finances and economic performance. The paper uses stochastic simulations to examine the robustness of the results to changes in parameter values. It also provides quantitative simulations of various reform options, including mainly an increase in the effective retirement age and flanking labor market measures.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Reformas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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The Macroeconomics of Ageing, Pensions and Savings A Survey

Autor: Kohl, Richard; O'Brien, Paul
Año: 1998
Resumen: The effect of pension systems on public and private saving is important - savings are a crucial link between decisions today and living standards tomorrow. This paper, following a brief overview of pension systems in some OECD countries, reviews the empirical literature. Two important questions are: do unfunded public pension schemes reduce national saving? Do tax-favoured private saving schemes increase national saving? Quantitative estimates are highly uncertain, but the answers appear to be, "yes, by up 30 per cent of the funding gap"; and "yes, but often not by very much when the fiscal effects are considered.

Fuente: Organización para la Cooperación y el Desarrollo Económico (OCDE)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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Should Public Pensions be Funded?

Autor: Hemming, Richard
Año: 1998
Resumen: This paper outlines some of the arguments for and against the funding of public pensions, with a view to establishing whether there is an economic basis for judging funding to be superior to pay-as-you-go (PAYG). It is argued that funding does not have a clear advantage, and the case for a shift from PAYG to funding is thus an uneasy one. There is nonetheless growing advocacy of funded public pensions as part of an ideal pension system, which raises more general issues about the role of the public sector in pension provision.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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Rethinking Public Pension Reform Initiatives

Autor: Heller, Peter S.
Año: 1998
Resumen: This paper argues that there are significant risks, limitations, and complications associated with reliance upon mandatory DC, fully funded schemes as the dominant public pension pillar. Policies to limit risks may result in the government being reinjected into playing an important financial role in the provision of social insurance. For many countries, the principal source of old age support should thus derive from a well-formulated, public DB pillar, with a significant amount of prefunding. A DC/FF pillar can play a useful supplemental role in a multi-pillar system for the accumulation of pension savings.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Seguridad Social y Sistemas de Pensiones
Tipo de Publicación: Documentos de Trabajo
Idioma:

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The Intragenerational Redistributive Effects of Unfunded Pension Programs

Autor: Cubeddu, Luis M.
Año: 1998
Resumen: This paper provides a quantitative evaluation of the intracohort redistributive elements of the U.S. social security system in the context of a computable general equilibrium model. It determines how the well-being of individuals that differ by gender, race, and education is affected by the government's social security policy. Differences in life expectancy and labor productivity translate into differences in capital accumulation and labor supply distortions that are responsible for the observed welfare difference between individuals of the same age cohort.

Fuente: Fondo Monetario Internacional (FMI)
Clasificación: Demografía
Tipo de Publicación: Documentos de Trabajo
Idioma:

Para visualizar el documento, clic aquí »

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