Demographics Pension Systems And The Saving Investment Balance

Author : Hua Chai,Jun Il Kim
Publisher : International Monetary Fund
Page : 21 pages
File Size : 45,7 Mb
Release : 2018-12-07
Category : Business & Economics
ISBN : 9781484385876

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Demographics, Pension Systems and the Saving-Investment Balance by Hua Chai,Jun Il Kim Pdf

This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic variables and pension system generosity interact to affect both private and public saving behavior. We then extend this framework to a two-country setting and simulate scenarios of demographic change and pension reform. We find that the generosity of the pension system plays an important role in determining the movement of the global interest rate and patterns of international capital flows.

Author : Mr.David Amaglobeli,Hua Chai,Ms.Era Dabla-Norris,Mr.Kamil Dybczak,Mauricio Soto,Alexander F. Tieman
Publisher : International Monetary Fund
Page : 47 pages
File Size : 40,6 Mb
Release : 2019-01-15
Category : Social Science
ISBN : 9781484394588

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The Future of Saving by Mr.David Amaglobeli,Hua Chai,Ms.Era Dabla-Norris,Mr.Kamil Dybczak,Mauricio Soto,Alexander F. Tieman Pdf

This SDN explores how demographic changes have affected and will affect public and private sector savings, highlighting the interaction between pension systems, labor markets, and demographic variables.

Author : Samuel Pienknagura,Christopher Evans
Publisher : International Monetary Fund
Page : 52 pages
File Size : 53,7 Mb
Release : 2021-09-10
Category : Business & Economics
ISBN : 9781513596112

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Assessing Chile's Pension System: Challenges and Reform Options by Samuel Pienknagura,Christopher Evans Pdf

Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.

Author : OECD
Publisher : OECD Publishing
Page : 180 pages
File Size : 53,9 Mb
Release : 2019-11-27
Category : Electronic
ISBN : 9789264876101

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Pensions at a Glance 2019 OECD and G20 Indicators by OECD Pdf

The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.

Author : OECD
Publisher : OECD Publishing
Page : 424 pages
File Size : 46,9 Mb
Release : 2017-11-06
Category : Electronic
ISBN : 9789264281288

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Understanding Financial Accounts by OECD Pdf

Understanding Financial Accounts seeks to show how a range of questions on financial developments can be answered with the framework of financial accounts and balance sheets, by providing non-technical explanations illustrated with practical examples.

Author : National Research Council,Division of Behavioral and Social Sciences and Education,Committee on Population,Division on Engineering and Physical Sciences,Board on Mathematical Sciences and Their Applications,Committee on the Long-Run Macroeconomic Effects of the Aging U.S. Population
Publisher : National Academies Press
Page : 230 pages
File Size : 47,8 Mb
Release : 2013-01-10
Category : Social Science
ISBN : 9780309261968

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Aging and the Macroeconomy by National Research Council,Division of Behavioral and Social Sciences and Education,Committee on Population,Division on Engineering and Physical Sciences,Board on Mathematical Sciences and Their Applications,Committee on the Long-Run Macroeconomic Effects of the Aging U.S. Population Pdf

The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.

Author : Charles Goodhart,Manoj Pradhan
Publisher : Springer Nature
Page : 260 pages
File Size : 55,8 Mb
Release : 2020-08-08
Category : Business & Economics
ISBN : 9783030426576

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The Great Demographic Reversal by Charles Goodhart,Manoj Pradhan Pdf

This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world’s economy may be going.

Author : Mr.David Amaglobeli,Hua Chai,Ms.Era Dabla-Norris,Mr.Kamil Dybczak,Mauricio Soto,Alexander F. Tieman
Publisher : International Monetary Fund
Page : 47 pages
File Size : 40,6 Mb
Release : 2019-01-15
Category : Social Science
ISBN : 9781484388990

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The Future of Saving by Mr.David Amaglobeli,Hua Chai,Ms.Era Dabla-Norris,Mr.Kamil Dybczak,Mauricio Soto,Alexander F. Tieman Pdf

This SDN explores how demographic changes have affected and will affect public and private sector savings, highlighting the interaction between pension systems, labor markets, and demographic variables.

Author : Mr.Benedict J. Clements,Mr.David Coady,Frank Eich,Mr.Sanjeev Gupta,Mr.Alvar Kangur,Baoping Shang,Mauricio Soto
Publisher : International Monetary Fund
Page : 86 pages
File Size : 55,6 Mb
Release : 2013-01-25
Category : Business & Economics
ISBN : 9781475566314

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The Challenge of Public Pension Reform in Advanced and Emerging Economies by Mr.Benedict J. Clements,Mr.David Coady,Frank Eich,Mr.Sanjeev Gupta,Mr.Alvar Kangur,Baoping Shang,Mauricio Soto Pdf

Pension reform is high on the policy agenda of many advanced and emerging market economies. In advanced economies the challenge is generally to contain future increases in public pension spending as the population ages. In emerging market economies, the challenges are often different. Where pension coverage is extensive, the issues are similar to those in advanced economies. Where pension coverage is low, the key challenge will be to expand coverage in a fiscally sustainable manner. This volume examines the outlook for public pension spending over the coming decades and the options for reform in 52 advanced and emerging market economies.

Author : Ary Lans Bovenberg,A. S. M. van der Linden
Publisher : Unknown
Page : 80 pages
File Size : 51,6 Mb
Release : 1997
Category : Arbejdsmarkedspension
ISBN : STANFORD:36105020414780

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Can We Afford to Grow Old? by Ary Lans Bovenberg,A. S. M. van der Linden Pdf

Author : Denis B. Solovev,Viktor V. Savaley,Alexander T. Bekker,Valery I. Petukhov
Publisher : Springer Nature
Page : 1010 pages
File Size : 51,5 Mb
Release : 2020-04-13
Category : Technology & Engineering
ISBN : 9789811522444

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Proceeding of the International Science and Technology Conference "FarEastСon 2019" by Denis B. Solovev,Viktor V. Savaley,Alexander T. Bekker,Valery I. Petukhov Pdf

This book presents the proceedings of the International Science and Technology Conference “FarEastCon 2019,” which took place on October 1–4, 2019, in Vladivostok, Russian Federation. The conference provided a platform for gathering expert opinions on projects and initiatives aimed at the implementation of far-sighted scientific research and development, and allowed current theoretical and practical advances to be shared with the broader research community. Featuring selected papers from the conference, this book will be of interest to experts in various fields whose work involves developing innovative solutions and increasing the efficiency of economic activities.

Author : International Monetary,International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
Page : 69 pages
File Size : 42,8 Mb
Release : 2022-06-15
Category : Business & Economics
ISBN : 9798400211218

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IMF Engagement on Pension Issues in Surveillance and Program Work by International Monetary,International Monetary Fund. Fiscal Affairs Dept.,International Monetary Fund. Strategy, Policy, & Review Department Pdf

The International Monetary Fund (IMF) is increasingly involved in offering policy advice on public pension issues to member countries. Public pension spending is important from both fiscal and welfare perspectives. Pension policy and its reforms can have significant fiscal and distribution implications, can influence labor supply and labor demand decisions, and may impact consumption and savings behavior. This technical note provides guidance on assessing public pension systems’ macrocriticality, i.e., sustainability, adequacy, and efficiency; it also discusses the issues and policy trade-offs to be considered when designing responses aiming to address these dimensions of the pension system. The paper emphasizes the importance of taking a long-term, comprehensive perspective when evaluating public pension spending and providing policy advice. Where feasible, reforms should be gradual and transparent to allow individuals ample time to adjust their work and savings decisions and to facilitate consumption smoothing over their lifecycle to avoid poverty in old age. It is also important to ensure that pension systems’ design and reforms do not lead to undesirable impacts in other policy areas including general tax compliance, health insurance coverage, labor force participation among older workers, or labor market informality. The paper emphasizes the importance country-specific social and economic objectives and constraints, as well as political economy realities – factors that can determine whether a pension reform is a success or failure.

Author : Michael D. Hurd,Naohiro Yashiro
Publisher : University of Chicago Press
Page : 376 pages
File Size : 52,6 Mb
Release : 2007-12-01
Category : Social Science
ISBN : 9780226361024

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The Economic Effects of Aging in the United States and Japan by Michael D. Hurd,Naohiro Yashiro Pdf

Due to falling fertility rates, the aging of the baby-boom cohort, and increases in life expectancy, the percentage of the population that is elderly is expected to increase rapidly in the United States and Japan over the next two decades. These fourteen essays show that, despite differences in culture and social and government structure, population aging will have many similar macro and micro effects on the economic status and behavior of the elderly in both countries. The most obvious effects will be on social programs such as public pension systems and the provision for medical needs of the elderly. But, the contributors demonstrate, aging will also affect markets for labor, capital, housing, and health care services. It will affect firms through their participation in the demand side of the labor market and through their provisions for pensions. And aging will influence saving rates, the rate of return on assets, the balance of payments, and, most likely, economic growth. This volume will interest scholars and policy makers concerned with the economics of aging.

Author : OECD
Publisher : OECD Publishing
Page : 153 pages
File Size : 43,8 Mb
Release : 2021-03-10
Category : Electronic
ISBN : 9789264433076

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Towards Improved Retirement Savings Outcomes for Women by OECD Pdf

Labour market inequalities are well-known to be the main drivers of the gender pension gap. This publication focuses on helping governments find solutions for retirement savings arrangements that do not further exacerbate these inequalities.

Author : Anonim
Publisher : World Bank Publications
Page : 32 pages
File Size : 40,5 Mb
Release : 2024-06-30
Category : Electronic
ISBN : 8210379456XXX

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How will China's saving-investment balance evolve? by Anonim Pdf