03303nam 2200625Ia 450 991045248650332120200520144314.01-4755-7934-91-4755-7635-8(CKB)2550000001041574(EBL)1607087(SSID)ssj0000943957(PQKBManifestationID)11503133(PQKBTitleCode)TC0000943957(PQKBWorkID)10995267(PQKB)10757673(MiAaPQ)EBC1607087(Au-PeEL)EBL1607087(CaPaEBR)ebr10661265(OCoLC)820480787(EXLCZ)99255000000104157420121206d2012 uy 0engur|n|---|||||txtccrA tradeoff between the output and current account effects of pension reform[electronic resource] /prepared by Mario Catalan and Nicolas E. MagudWashington, D.C. International Monetary Fundc20121 online resource (25 p.)IMF working paper ;WP/12/283Description based upon print version of record.1-61635-857-2 1-4755-6394-9 Includes bibliographical references.Cover; Abstract; Contents; I. Introduction; II. The Model; III. Results; A. Baseline; B. Reform I: Increasing the Retirement Age; C. Reform II: Cutting Pension Benefits; D. The Long-Run Tradeoff between Output and the Current Account; Tables; 1. Baseline Parameter Values; Figures; 1. Baseline Household's Wage, Pension, Disposable Income, Consumption, and Saving Profiles by Age; 2. Effects of Pension Reforms o Household's Disposable Income and Consumption Profiles by Age; 3. Effects of Pension Reforms on Household's Labor Effort Profile by Age4. The Long-Run Tradeoff between Output and the Current Account2. Results; Appendix: Household's Optimization Problem; ReferencesWe compare the long-term output and current account effects of pension reforms that increase the retirement age with those of reforms that cut pension benefits, conditional on reforms achieving similar fiscal targets. We show the presence of a policy trade-off. Pension reforms that increase the retirement age have a large positive effect on output, but a small (and often negative) effect on the current account. In contrast, reforms that cut pension benefits improve the current account balance but reduce output. Mixed pension reforms, which extend the working life and cut pension benefits, canIMF Working PapersIndustrial productivityEconometric modelsBalance of paymentsEconometric modelsPensionsEconometric modelsElectronic books.Industrial productivityEconometric models.Balance of paymentsEconometric models.PensionsEconometric models.Cataln Mario1972-875623Magud Nicolas875624MiAaPQMiAaPQMiAaPQBOOK9910452486503321A tradeoff between the output and current account effects of pension reform1955061UNINA