Pension Reform, Private Saving, and the Current Account in a Small Open Economy

Pension Reform, Private Saving, and the Current Account in a Small Open Economy
The macroeconomic implications of a pension reform that substitutes a high-return fully-funded system for a low-return pay-as-you-go system are discussed in an overlapping generations, neoclassical growth model. With forward-looking individuals, a debt-financed reform worsens the current account, while a tax-financed reform leaves the current... READ MORE...

Publication date: October 2000
ISBN 9781451858495
$15.00

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