Effects of the Public Sector downsizing on Social Security and public finance

This paper presents the results of the actuarial valuation method Projected Unit Credit (“benefits/years of service”) in order to assess the effects of the public sector downsizing on real economy and social security in Greece, using a prototype data set. We found a social security loss of about 1.3 bn.€, and the effect on the GDP is estimated -13.6 bn.€ (or -7%). We also report a decrease in the direct income by 6.1 bn.€.

MoreLess

Year of publication:	2014
Authors:	Vogiatzis, Ioannis ; Siriopoulos, Costas ; Frangos, Nikolaos
Published in:	SPOUDAI Journal of Economics and Business. - Chaire en Économie et Management de l'Innovation (CEMI). - Vol. 64.2014, 1, p. 53-62
Publisher:	Chaire en Économie et Management de l'Innovation (CEMI)
Subject:	Projected Unit Credit Method \| Public Sector Downsizing \| Pensions \| Social Security

More details

Type of publication:	Article
Classification:	c58 ; H55 - Social Security and Public Pensions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011084946