Pension reform options in Chile :: some tradeoffs /
In this paper, we study the macroeconomic impact of pension reform options in Chile, using a dynamic general equilibrium model. The main reform proposal considers raising contributions (employer side) and vehicle additional proceeds to individual accounts and to increase the support of solidarity pe...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, District of Columbia] :
International Monetary Fund,
2017.
|
| Schriftenreihe: | IMF working paper ;
WP/17/53. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | In this paper, we study the macroeconomic impact of pension reform options in Chile, using a dynamic general equilibrium model. The main reform proposal considers raising contributions (employer side) and vehicle additional proceeds to individual accounts and to increase the support of solidarity pensions. We model increased contributions as a labor tax. We find the impact of this reform on GDP to be negative in the near to the medium run, with GDP declining by 0.5 percent by 2021, as a result of labor tax distortions which lead to a fall in labor supply, investment and to a loss in competitiveness. We also illustrate the main macroeconomics tradeoffs by analyzing alternative reforms, such as using revenues only to improve future pensions or a reform package funded by a mix of higher contributions and indirect taxes. |
| Beschreibung: | 1 online resource (22 pages) : illustrations (some color), tables, graphs. |
| ISBN: | 147558685X 9781475586855 |
Internformat
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| 520 | 3 | |a In this paper, we study the macroeconomic impact of pension reform options in Chile, using a dynamic general equilibrium model. The main reform proposal considers raising contributions (employer side) and vehicle additional proceeds to individual accounts and to increase the support of solidarity pensions. We model increased contributions as a labor tax. We find the impact of this reform on GDP to be negative in the near to the medium run, with GDP declining by 0.5 percent by 2021, as a result of labor tax distortions which lead to a fall in labor supply, investment and to a loss in competitiveness. We also illustrate the main macroeconomics tradeoffs by analyzing alternative reforms, such as using revenues only to improve future pensions or a reform package funded by a mix of higher contributions and indirect taxes. | |
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| geographic_facet | Chile |
| id | ZDB-4-EBA-ocn985887017 |
| illustrated | Illustrated |
| indexdate | 2024-11-27T13:27:49Z |
| institution | BVB |
| isbn | 147558685X 9781475586855 |
| language | English |
| oclc_num | 985887017 |
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| physical | 1 online resource (22 pages) : illustrations (some color), tables, graphs. |
| psigel | ZDB-4-EBA |
| publishDate | 2017 |
| publishDateSearch | 2017 |
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| publisher | International Monetary Fund, |
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| series | IMF working paper ; |
| series2 | IMF working paper ; |
| spelling | Santoro, Marika, author. http://id.loc.gov/authorities/names/no2011032885 Pension reform options in Chile : some tradeoffs / by Marika Santoro. [Washington, District of Columbia] : International Monetary Fund, 2017. ©2017 1 online resource (22 pages) : illustrations (some color), tables, graphs. text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF working paper ; WP/17/53 In this paper, we study the macroeconomic impact of pension reform options in Chile, using a dynamic general equilibrium model. The main reform proposal considers raising contributions (employer side) and vehicle additional proceeds to individual accounts and to increase the support of solidarity pensions. We model increased contributions as a labor tax. We find the impact of this reform on GDP to be negative in the near to the medium run, with GDP declining by 0.5 percent by 2021, as a result of labor tax distortions which lead to a fall in labor supply, investment and to a loss in competitiveness. We also illustrate the main macroeconomics tradeoffs by analyzing alternative reforms, such as using revenues only to improve future pensions or a reform package funded by a mix of higher contributions and indirect taxes. Pensions Chile. Pensions. http://id.loc.gov/authorities/subjects/sh85099592 Pensions Chili. Pensions. pensions (compensation) aat BUSINESS & ECONOMICS / Labor bisacsh POLITICAL SCIENCE / Labor & Industrial Relations bisacsh Pensions fast Chile fast https://id.oclc.org/worldcat/entity/E39QbtfRFbvHH9JJMfwqG33tTB has work: Pension reform options in Chile (Text) https://id.oclc.org/worldcat/entity/E39PCFJTgfC6Q977Gbpyc9fVkC https://id.oclc.org/worldcat/ontology/hasWork Print version: Santoro, Marika Pension Reform Options in Chile: Some Tradeoffs Washington, D.C. : International Monetary Fund,2017 9781475586206 IMF working paper ; WP/17/53. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1496829 Volltext |
| spellingShingle | Santoro, Marika Pension reform options in Chile : some tradeoffs / IMF working paper ; Pensions Chile. Pensions. http://id.loc.gov/authorities/subjects/sh85099592 Pensions Chili. Pensions. pensions (compensation) aat BUSINESS & ECONOMICS / Labor bisacsh POLITICAL SCIENCE / Labor & Industrial Relations bisacsh Pensions fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85099592 |
| title | Pension reform options in Chile : some tradeoffs / |
| title_auth | Pension reform options in Chile : some tradeoffs / |
| title_exact_search | Pension reform options in Chile : some tradeoffs / |
| title_full | Pension reform options in Chile : some tradeoffs / by Marika Santoro. |
| title_fullStr | Pension reform options in Chile : some tradeoffs / by Marika Santoro. |
| title_full_unstemmed | Pension reform options in Chile : some tradeoffs / by Marika Santoro. |
| title_short | Pension reform options in Chile : |
| title_sort | pension reform options in chile some tradeoffs |
| title_sub | some tradeoffs / |
| topic | Pensions Chile. Pensions. http://id.loc.gov/authorities/subjects/sh85099592 Pensions Chili. Pensions. pensions (compensation) aat BUSINESS & ECONOMICS / Labor bisacsh POLITICAL SCIENCE / Labor & Industrial Relations bisacsh Pensions fast |
| topic_facet | Pensions Chile. Pensions. Pensions Chili. pensions (compensation) BUSINESS & ECONOMICS / Labor POLITICAL SCIENCE / Labor & Industrial Relations Pensions Chile |
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