Pension Reform, Private Saving, and the Current Account in a Small Open Economy:
Gespeichert in:
Internformat
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520 | 3 | |a The macroeconomic implications of a pension reform that substitutes a high-return fully-funded system for a low-return pay-as-you-go system are discussed in an overlapping generations, neoclassical growth model. With forward-looking individuals, a debt-financed reform worsens the current account, while a tax-financed reform leaves the current account unchanged. With myopic individuals, a debt-financed reform leaves the current account unchanged, while a tax-financed reform improves the current account. Hence, tax-financing, which is equivalent to pre-funding, should be the preferred reform strategy in a small open economy with a weak current account position | |
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Datensatz im Suchindex
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language | English |
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physical | 1 Online-Ressource (30 p) |
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publishDate | 2000 |
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publisher | International Monetary Fund |
record_format | marc |
series2 | IMF Working Papers |
spellingShingle | Schimmelpfennig, Axel Pension Reform, Private Saving, and the Current Account in a Small Open Economy |
title | Pension Reform, Private Saving, and the Current Account in a Small Open Economy |
title_auth | Pension Reform, Private Saving, and the Current Account in a Small Open Economy |
title_exact_search | Pension Reform, Private Saving, and the Current Account in a Small Open Economy |
title_full | Pension Reform, Private Saving, and the Current Account in a Small Open Economy Schimmelpfennig, Axel |
title_fullStr | Pension Reform, Private Saving, and the Current Account in a Small Open Economy Schimmelpfennig, Axel |
title_full_unstemmed | Pension Reform, Private Saving, and the Current Account in a Small Open Economy Schimmelpfennig, Axel |
title_short | Pension Reform, Private Saving, and the Current Account in a Small Open Economy |
title_sort | pension reform private saving and the current account in a small open economy |
url | http://elibrary.imf.org/view/IMF001/05187-9781451858495/05187-9781451858495/05187-9781451858495.xml |
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