Assessing the Budgetary Impact of Systemic Pension Reforms
by
Werner Roeger
European Commission
DG ECFIN/Research Directorate
Abstract:
This paper projects the macroeconomic and budgetary effects until 2050 of retaining the
current PAYG system in the EU and analyses two alternative strategies of avoiding an
increase in non wage labour costs. Special emphasis is laid on the question whether a
partial move to a funded system could be a feasible option. At least for the transition, the
budgetary costs appear to be rather large. In an alternative scenario, the paper highlights
the debt explosion associated with a move to debt financing of additional pension
expenditures.
Correspondence: Werner Roeger, European Commission, BU-1, 1200 Brussels,
E-Mail: [email protected].
The views expressed in this paper are those of the author and not necessarily those of the European
Commission.
70
More intriguing information
1. Gerontocracy in Motion? – European Cross-Country Evidence on the Labor Market Consequences of Population Ageing2. On Dictatorship, Economic Development and Stability
3. Hemmnisse für die Vernetzungen von Wissenschaft und Wirtschaft abbauen
4. Orientation discrimination in WS 2
5. Multiple Arrhythmogenic Substrate for Tachycardia in a
6. Pricing American-style Derivatives under the Heston Model Dynamics: A Fast Fourier Transformation in the Geske–Johnson Scheme
7. The Impact of Cognitive versus Affective Aspects on Consumer Usage of Financial Service Delivery Channels
8. MICROWORLDS BASED ON LINEAR EQUATION SYSTEMS: A NEW APPROACH TO COMPLEX PROBLEM SOLVING AND EXPERIMENTAL RESULTS
9. If our brains were simple, we would be too simple to understand them.
10. The technological mediation of mathematics and its learning