Börsch-Supan, Axel; Ludwig, Alexander; Winter, Joachim - Munich Center for the Economics of Aging (MEA) at the … - 2004
We present a quantitative analysis of the effects of population aging and pension reform on international capital … amplified when a pension reform shifts old-age provision towards more pre-funding. Third, while the patterns of population aging …. We also conclude that closed-economy models of pension reform miss quantitatively important effects of international …