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Kashiwase, Kenichiro; Nozaki, Masahiro; Tokuoka, Kiichi - International Monetary Fund (IMF) - 2012

This paper analyzes various reform options for Japanâ€™s public pension in light of large fiscal consolidation needs of the country. The most attractive option is to increase the pension eligibility age in line with high and rising life expectancy. This would have a positive effect on...

Persistent link: https://www.econbiz.de/10011142039

Reforming the Public Pension System in the Russian Federation

Eich, Frank; Soto, Mauricio; Gust, Charleen - International Monetary Fund (IMF) - 2012

Pension reform is a key policy challenge in Russia. This paper examines how pension spending could increase in Russia in the absence of reforms, quantifies the impact of some recent proposals, and suggests some alternatives that would ensure public pension benefits - relative to wages - not fall...

Persistent link: https://www.econbiz.de/10010790258

Quantifying Impact of Aging Population on Fiscal Space

Park, Seok Gil - International Monetary Fund (IMF) - 2012

This paper quantitatively investigates how population aging trend affects fiscal space measured as unused revenue generating capacity by utilizing a standard neoclassical growth model. A calibration exercise for G-7 countries shows that France, Germany and Italy suffer greater revenue impact...

Persistent link: https://www.econbiz.de/10010790302

The Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans

Kiff, John; Kisser, Michael; Soto, Mauricio; Oppers, … - International Monetary Fund (IMF) - 2012

This paper provides the first empirical assessment of the impact of life expectancy assumptions on the liabilities of private U.S. defined benefit (DB) pension plans. Using detailed actuarial and financial information provided by the U.S. Department of Labor, we construct a longevity variable...

Persistent link: https://www.econbiz.de/10010790337

Intergenerational Implications of Fiscal Consolidation in Japan

Tokuoka, Kiichi - International Monetary Fund (IMF) - 2012

In Japan, intergenerational inequality in lifetime resources is substantial, with a heavier fiscal burden on the young than the old. Moreover, given the need for fiscal consolidation, the inequality is even worse than existing policy would suggest. However, this does not mean that fiscal...

Persistent link: https://www.econbiz.de/10010790385

Market Discipline and Conflicts of Interest Between Banks and Pension Funds

Barajas, Adolfo; Catalán, Mario - International Monetary Fund (IMF) - 2011

We study the behavior of private pension funds as large depositors in a banking system. Using panel data analysis, we …

Persistent link: https://www.econbiz.de/10009370562

Can the Eastern Caribbean Currency Union Afford to Grow Old?

Monroe, Hunter K. - International Monetary Fund (IMF) - 2009

The demographic transition in the Eastern Caribbean Currency Union (ECCU) now underway is rapid compared with international experience, and emigration is playing a particularly large role. This paper describes and quantifies several factors which could magnify the challenge of pension reform....

Persistent link: https://www.econbiz.de/10005768869

Pension Reform in China; The Need for a New Approach

Dunaway, Steven Vincent; Arora, Vivek B. - International Monetary Fund (IMF) - 2007

The rapid aging of China's population over the next few decades makes it important for a new pension system with broad … system. This paper argues that a way forward is to separate the legacy problem from the problem of setting up a new pension … system, and it suggests concrete proposals for setting up such a new system which would cover both urban and rural workers. …

Persistent link: https://www.econbiz.de/10005769032

Ensuring Fiscal Sustainability in G-7 Countries

Leigh, Daniel; Hauner, David; Skaarup, Michael - International Monetary Fund (IMF) - 2007

Rising longevity, falling fertility rates, and the retirement of the baby boom generation will substantially raise age-related government spending in most advanced and many emerging market countries. This paper assesses the evolution of fiscal sustainability for each of the G-7 countries using...

Persistent link: https://www.econbiz.de/10005769069

Coping with Spain's Aging; Retirement Rules and Incentives

Hoffmaister, Alexander W.; Catalán, Mario; Guajardo, Jaime - International Monetary Fund (IMF) - 2007

benefits in a pay-as-you-go system. It also examines the complementarities between reforms extending the averaging period and …

Persistent link: https://www.econbiz.de/10005769092