This paper reviews past trends in public pension spending and provides projections for 27 advanced and 25 emerging economies over 2011-2050. In constructing these projections, the paper incorporates the impact of recent pension reforms and highlights the key assumptions underlying these...

This paper explains different features of the MULTI-region econometric MODel (MULTIMOD). MULTIMOD is designed to examine the effects on that baseline of scenarios that involve changes in policies in major countries and other exogenous changes in the economic environment. The Mark II version...

This paper reviews and analyzes broad developments and considers specific policy measures to foster saving. The chapter also describes trends in national saving rates of industrial countries in recent years and briefly discusses the prospects over the medium term. The paper also discusses the...

The paper shows that an increase in the aggregate fiscal deficit of the industrial countries may worsen the economic growth and fiscal balance of the developing countries that are burdened with external debt and facing current account constraints. The discussion is based on theoretical analysis...

The paper examines empirically the question of whether more unequal societies spend more on income redistribution than their more egalitarian counterparts. Theoretical arguments on this issue are inconclusive. The political economy literature suggests that redistributive spending is higher in...

This paper presents a survey by IMF staff of recent trends in private market financing for developing countries. In addition to summarizing recent developments in capital flows to developing countries through banking and securities markets, it analyzes three issues of particular interest in the...