Pension Reforms in an Aging Society: A Fully Displayed Cohort Model

We fully display a cohort model of an economy with an aging population, taking into account varying family size, habit formation, inheritance and credit constraints. Filling the model with numbers, we are able to compare different pension reforms: 1. the base run, 2. the reduced accrual rates, 3. replacing wage indexation with price indexation and 4. raised retirement age. Whether the policy changes are anticipated or not, the private reactions widely differ.

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Year of publication:	2009-10
Authors:	Simonovits, Andras
Institutions:	Közgazdaság-tudományi Intézet, Közgazdaság- és Regionális Tudományi Kutatóközpont
Subject:	population aging \| pension models \| pension reforms

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Extent:	application/pdf
Series:	IEHAS Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 0917 33 pages
Classification:	H1 - Structure and Scope of Government ; H5 - National Government Expenditures and Related Policies ; H6 - National Budget, Deficit, and Debt
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008491365