Macroeconomic Effects of Pension Reforms in The Context of Ageing Populations Overlapping Generations Model Simulations for Seven OECD Countries
Using overlapping generations (OLG) models calibrated on seven OECD countries -- the United States, Japan, France, Canada, Italy, the United Kingdom and Sweden -- the authors investigate the macroeconomic impact of possible pension reform strategies as populations age. Simulations include a reductio...
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| Format: | eBook |
| Language: | English |
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Paris
OECD Publishing
1998
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| Series: | OECD Economics Department Working Papers
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| Collection: | OECD Books and Papers - Collection details see MPG.ReNa |
| Summary: | Using overlapping generations (OLG) models calibrated on seven OECD countries -- the United States, Japan, France, Canada, Italy, the United Kingdom and Sweden -- the authors investigate the macroeconomic impact of possible pension reform strategies as populations age. Simulations include a reduction in the level of pensions, phased abolition of PAYG schemes and general fiscal consolidation. By raising the national saving rate future GDP levels are higher, but not enough to offset the affects of ageing. A rise in the retirement age has larger effects, but implies significant loss of leisure time .. |
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| Physical Description: | 36 p. 21 x 29.7cm |