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The Resource Macroeconomic Effects of Public Pension Reforms

Macroeconomic Effects of Public Pension Reforms

Label
Macroeconomic Effects of Public Pension Reforms
Title
Macroeconomic Effects of Public Pension Reforms
Creator
Contributor
Author
Subject
Genre
Language
eng
Summary
The paper explores the macroeconomic effects of three public pension reforms, namely an increase in retirement age, a reduction in benefits and an increase in contribution rates. Using a five-region version of the IMF's Global Integrated Monetary and Fiscal model (GIMF), we find that public pension reforms can have a positive effect on growth in both the short run, propelled by rising consumption, and in the long run, due to lower government debt crowding in higher investment. We also find that a reform action undertaken cooperatively by all regions results in larger output effects, reflecting
Member of
Cataloging source
EBLCP
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Pereira, Joana
Index
no index present
LC call number
HG3810
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Karam, Philippe D
  • Muir, Dirk
  • Tuladhar, Anita
Series statement
IMF Working Paper
http://library.link/vocab/subjectName
  • Pensions
  • Pensions
  • Pensions
  • Pensions
Label
Macroeconomic Effects of Public Pension Reforms
Instantiates
Publication
Note
1. Selected Steady-State Values
Bibliography note
Includes bibliographical references (pages 62-63)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover Page; Title Page; Copyright Page; Contents; Introduction; I. Pension Spending Trends, Theory and Existing Studies; A. Current and Projected Public Pension Spending; 1. Change in Public Pension Expenditures, 2010-306; B. Theory and Existing Studies; II. The Methodology For Modeling Public Pension Reforms; A. Overview of the Model's Key Features; B. Quantifying Public Pension Reforms; 1. Required Pension Age Extensions across the Regions; C. Caveats and Qualifications; D. Calibration; III. Results: Public Pension Reforms; A. Baseline
  • B. Region-by-Region Benchmark Public Pension Reform Scenarios2. Increase in the Retirement Age in the United States (Excluding Fiscal Consolidation); 3. Increase in the Retirement Age in the United States; 4. Increase in the Retirement Age in the Euro Area; 5. Increase in the Retirement Age in Emerging Asia; 6. Increase in the Retirement Age in the Remaining Countries Block; 7. Reducing Pension Benefits in the United States; 8. Reducing Pension Benefits in the Euro Area; 9. Reducing Pension Benefits in Emerging Asia; 10. Reducing Pension Benefits in the Remaining Countries Block
  • 11. Raising Contribution Rates in the United States12. Raising Contribution Rates in the Euro Area; 13. Raising Contribution Rates in Emerging Asia; 14. Raising Contribution Rates in the Remaining Countries Block; C. Benchmark Global Scenario-Simultaneous Reforms in all Regions; 15. Cooperative Versus Regional Pension Reform-Increase in Retirement Age; 2. Cooperative Versus Regional Pension Reform-Increase in Retirement Age; 16. Cooperative Versus Regional Pension Reform-Reducing Pension Benefits; 17. Cooperative Versus Regional Pension Reform-Raising Contribution Rates
  • 3. Cooperative Versus Regional Pension Reform-Reducing Spending on Pension Benefits4. Cooperative Versus Regional Pension Reform-Raising Contribution Rates; IV. Sensitivity Analysis; 18. Sensitivity Analysis Around the Benchmark Coordinated Global Reform Scenario-Labor Supply Response; 19. Sensitivity Analysis Around the Benchmark Coordinated Global Reform Scenario-Role of the Planning Horizon (Degree of Myopia); 20. Sensitivity Analysis Around the Benchmark Coordinated Global Reform Scenario-Share of LIQ Households at 50 Percent Worldwide
  • 21. Sensitivity Analysis Around the Benchmark Coordinated Global Reduction in Public Pension Spending-Rapid Implementation22. Sensitivity Analysis Around the Benchmark Coordinated Global Reduction in Public Pension Spending-U.S. Reduction Levels Applied Globally; 23. Sensitivity Analysis Around the Benchmark Coordinated Global Reform Scenario-Monetary Policy Accommodation; 24. Sensitivity Analysis Around the Benchmark Reduction in Public Pension Spending by the United States Only-Different Inflation Behaviors; V. Conclusion; 1. GIMF's Main Features and Calibration
Control code
867928433
Dimensions
unknown
Extent
1 online resource (83 pages)
Form of item
online
Isbn
9781455299294
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Specific material designation
remote
System control number
(OCoLC)867928433
Label
Macroeconomic Effects of Public Pension Reforms
Publication
Note
1. Selected Steady-State Values
Bibliography note
Includes bibliographical references (pages 62-63)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • Cover Page; Title Page; Copyright Page; Contents; Introduction; I. Pension Spending Trends, Theory and Existing Studies; A. Current and Projected Public Pension Spending; 1. Change in Public Pension Expenditures, 2010-306; B. Theory and Existing Studies; II. The Methodology For Modeling Public Pension Reforms; A. Overview of the Model's Key Features; B. Quantifying Public Pension Reforms; 1. Required Pension Age Extensions across the Regions; C. Caveats and Qualifications; D. Calibration; III. Results: Public Pension Reforms; A. Baseline
  • B. Region-by-Region Benchmark Public Pension Reform Scenarios2. Increase in the Retirement Age in the United States (Excluding Fiscal Consolidation); 3. Increase in the Retirement Age in the United States; 4. Increase in the Retirement Age in the Euro Area; 5. Increase in the Retirement Age in Emerging Asia; 6. Increase in the Retirement Age in the Remaining Countries Block; 7. Reducing Pension Benefits in the United States; 8. Reducing Pension Benefits in the Euro Area; 9. Reducing Pension Benefits in Emerging Asia; 10. Reducing Pension Benefits in the Remaining Countries Block
  • 11. Raising Contribution Rates in the United States12. Raising Contribution Rates in the Euro Area; 13. Raising Contribution Rates in Emerging Asia; 14. Raising Contribution Rates in the Remaining Countries Block; C. Benchmark Global Scenario-Simultaneous Reforms in all Regions; 15. Cooperative Versus Regional Pension Reform-Increase in Retirement Age; 2. Cooperative Versus Regional Pension Reform-Increase in Retirement Age; 16. Cooperative Versus Regional Pension Reform-Reducing Pension Benefits; 17. Cooperative Versus Regional Pension Reform-Raising Contribution Rates
  • 3. Cooperative Versus Regional Pension Reform-Reducing Spending on Pension Benefits4. Cooperative Versus Regional Pension Reform-Raising Contribution Rates; IV. Sensitivity Analysis; 18. Sensitivity Analysis Around the Benchmark Coordinated Global Reform Scenario-Labor Supply Response; 19. Sensitivity Analysis Around the Benchmark Coordinated Global Reform Scenario-Role of the Planning Horizon (Degree of Myopia); 20. Sensitivity Analysis Around the Benchmark Coordinated Global Reform Scenario-Share of LIQ Households at 50 Percent Worldwide
  • 21. Sensitivity Analysis Around the Benchmark Coordinated Global Reduction in Public Pension Spending-Rapid Implementation22. Sensitivity Analysis Around the Benchmark Coordinated Global Reduction in Public Pension Spending-U.S. Reduction Levels Applied Globally; 23. Sensitivity Analysis Around the Benchmark Coordinated Global Reform Scenario-Monetary Policy Accommodation; 24. Sensitivity Analysis Around the Benchmark Reduction in Public Pension Spending by the United States Only-Different Inflation Behaviors; V. Conclusion; 1. GIMF's Main Features and Calibration
Control code
867928433
Dimensions
unknown
Extent
1 online resource (83 pages)
Form of item
online
Isbn
9781455299294
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Specific material designation
remote
System control number
(OCoLC)867928433

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