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100   $a20121206d2012      uy             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 12$aA tradeoff between the output and current account effects of pension reform$b[electronic resource] /$fprepared by Mario Catalan and Nicolas E. Magud
210   $aWashington, D.C. $cInternational Monetary Fund$dc2012
215   $a1 online resource (25 p.)
225 0 $aIMF working paper ;$vWP/12/283
300   $aDescription based upon print version of record.
311   $a1-61635-857-2 
311   $a1-4755-6394-9 
320   $aIncludes bibliographical references.
327   $aCover; 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 Age
327   $a4. The Long-Run Tradeoff between Output and the Current Account2. Results; Appendix: Household's Optimization Problem; References
330   $aWe compare the long-term output and current account effects of pension reforms that increase the retirement age with those of reforms that cut pension benefits, conditional on reforms achieving similar fiscal targets. We show the presence of a policy trade-off. Pension reforms that increase the retirement age have a large positive effect on output, but a small (and often negative) effect on the current account. In contrast, reforms that cut pension benefits improve the current account balance but reduce output. Mixed pension reforms, which extend the working life and cut pension benefits, can
410  0$aIMF Working Papers
606   $aIndustrial productivity$xEconometric models
606   $aBalance of payments$xEconometric models
606   $aPensions$xEconometric models
608   $aElectronic books.
615  0$aIndustrial productivity$xEconometric models.
615  0$aBalance of payments$xEconometric models.
615  0$aPensions$xEconometric models.
700   $aCataln$b Mario$f1972-$0875623
701   $aMagud$b Nicolas$0875624
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910452486503321
996   $aA tradeoff between the output and current account effects of pension reform$91955061
997   $aUNINA