A tradeoff between the output and current account effects of pension reform:

We compare the long-term output and current account effects of pension reforms that increase the retirement age with those of reforms that cut pension benefits, conditional on reforms achieving similar fiscal targets. We show the presence of a policy trade-off. Pension reforms that increase the reti...

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1. Verfasser: Catalan, Mario 1972- (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C International Monetary Fund 2012
Schriftenreihe:IMF Working Papers Working Paper No. 12/283
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Zusammenfassung:We compare the long-term output and current account effects of pension reforms that increase the retirement age with those of reforms that cut pension benefits, conditional on reforms achieving similar fiscal targets. We show the presence of a policy trade-off. Pension reforms that increase the retirement age have a large positive effect on output, but a small (and often negative) effect on the current account. In contrast, reforms that cut pension benefits improve the current account balance but reduce output. Mixed pension reforms, which extend the working life and cut pension benefits, can simultaneously boost output and the current account
Beschreibung:Title from PDF title page (IMF Web site, viewed Dec. 6, 2012). - "Institute for Capacity Development.". - "December 2012."
Beschreibung:1 Online-Ressource (24 Seiten)
ISBN:1475563949
9781475563948
9781616358570
1616358572
1475576358
9781475576351
ISSN:1018-5941

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