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:
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

MARC

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245 1 0 |a Demographics, Pension Systems and the Saving-Investment Balance 
260 |a Washington, D.C. :  |b International Monetary Fund,  |c 2018. 
300 |a 1 online resource (22 pages) 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
490 1 |a IMF Working Paper ;  |v WP/18/265 
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505 0 |a Cover; Contents; Abstract; I. Introduction; II. Small Open Economy Model Setup; III. Steady-State Equilibrium; IV. A Two-Country Extension; V. Conclusion; References; Figures; 1. Demographic Developments; 2. Frequency Distribution of Coverage and Benefit Ratios Around the World, 2015; 3. Two-Country Model Simulation Scenario 1; 4. Two-Country Model Simulation Scenario 2; 5. Two-Country Model Simulation Scenario 3 
504 |a Includes bibliographical references. 
520 3 |a 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. 
650 0 |a Balance of payments  |x Econometric models. 
650 6 |a Balance des paiements  |x Modèles économétriques. 
650 7 |a Balance of payments  |x Econometric models.  |2 fast  |0 (OCoLC)fst00825676 
655 4 |a Electronic books. 
700 1 |a Il Kim, Jun. 
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