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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| Autor Corporativo: | |
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| Formato: | Libro electrónico |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund
2012.
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| Colección: | EBSCO Academic eBook Collection Complete.
IMF working papers ; WP/12/283. |
| Acceso en línea: | Conectar con la versión electrónica |
| Ver en Universidad de Navarra: | https://innopac.unav.es/record=b35578221*spi |
| Sumario: | 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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| Notas: | "Institute for Capacity Development." "December 2012." |
| Descripción Física: | 24 p. |
| Formato: | Forma de acceso: World Wide Web. |
| Bibliografía: | Incluye referencias bibliográficas. |
| ISBN: | 9781616358570 |
