Hidden Bibliographic Details
| Other authors / contributors: | Magud, Nicolas.
International Monetary Fund. Institute for Capacity Development.
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| ISBN: | 9781616358570
1616358572
1475563949
9781475563948
1475576358
9781475576351
9781475563948
9781475576351
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| Digital file characteristics: | data file
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| Notes: | Title from PDF title page (IMF Web site, viewed December 6, 2012).
"Institute for Capacity Development."
"December 2012."
Includes bibliographical references.
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| Summary: | We 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 simultaneously boost output and the current account.
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