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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...
| Call Number: | Libro Electrónico |
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| Format: | Electronic eBook |
| Language: | Inglés |
| Published: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
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| Series: | IMF working paper ;
WP/12/283. |
| Subjects: | |
| Online Access: | Texto completo |
| Summary: | 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. |
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| Item Description: | Title from PDF title page (IMF Web site, viewed December 6, 2012). "Institute for Capacity Development." "December 2012." |
| Physical Description: | 1 online resource (24 pages) |
| Bibliography: | Includes bibliographical references. |
| ISBN: | 9781616358570 1616358572 1475563949 9781475563948 1475576358 9781475576351 1475579349 9781475579345 |