Pension Policies And Public Debt In Dynamic Cge Models (research Institute Of The Finnish Economy. Series A, 23)

Population aging raises a number of issues regarding the optimality of public debt policy and the systems of public pension provisions that are in use in developed countries. The studies in this book address these questions using computable general equilibrium models. They give illuminating insights and new empirical estimates of future prospects of pay-as-you-go pension schemes in the "big seven" OECD countries, the possible distortions introduced by the pension systems in four large European economies, the effects of lifetime uncertainty in analyzing a potential reform of the Dutch pension system, effects of increasing international mobility of financial capital to pension policies, and public debt reduction policies in relation to possible adverse effects of taxation on wage formation and unemployment. Front Matter....Pages I-IX Introduction and Summary....Pages 1-15 The Future of Public Pensions in the Seven Major Economies....Pages 16-73 Pension Systems in Europe: A General Equilibrium Study....Pages 74-109 Pension Policies and Lifetime Uncertainty in an Applied General Equilibrium Model....Pages 110-138 Pension Policies and International Capital Mobility....Pages 139-166 Debt Reduction, Wage Formation and Intergenerational Welfare....Pages 167-189 Population ageing raises a number of issues regarding the optimality of public debt policy and the systems of public pension provisions that are in use in developed countries. This volume contains studies which address these questions using computable general equilibrium models. Papers on pension systems, taxation and public debt in computable general equilibrium models