Demographics, Pension Systems and the Saving-Investment Balance

Demographics, Pension Systems and the Saving-Investment Balance

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Bibliographic Details
Author / Creator:	Chai, Hua.
Imprint:	Washington, D.C. : International Monetary Fund, 2018.
Description:	1 online resource (22 pages)
Language:	English
Series:	IMF Working Paper ; WP/18/265 IMF working paper ; WP/18/265.
Subject:	Balance of payments -- Econometric models. Balance of payments -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/13513024

Hidden Bibliographic Details
Other authors / contributors:	Il Kim, Jun.
ISBN:	9781484390443 148439044X
Notes:	Includes bibliographical references. Print version record.
Summary:	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.
Other form:	Print version: Chai, Hua. Demographics, Pension Systems and the Saving-Investment Balance. Washington, D.C. : International Monetary Fund, ©2018

Description
Summary:	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.
Physical Description:	1 online resource (22 pages)
Bibliography:	Includes bibliographical references.
ISBN:	9781484390443 148439044X