Macroeconomic Effects of Public Pension Reforms

📝 Rate this literary masterpiece! 📚 Add to "I'll read it someday" pile 🏠 Give it a cozy shelf spot 🛒 Buy this book!

📖 The Scoop

The paper explores the macroeconomic effects of three public pension reforms, namely an increase in retirement age, a reduction in benefits and an increase in contribution rates. Using a five-region version of the IMF‘s Global Integrated Monetary and Fiscal model (GIMF), we find that public pension reforms can have a positive effect on growth in both the short run, propelled by rising consumption, and in the long run, due to lower government debt crowding in higher investment. We also find that a reform action undertaken cooperatively by all regions results in larger output effects, reflecting stronger capital accumulation due to higher world savings. An increase in the retirement age reform yields the strongest impact in the short run, due to the demand effects of higher labor income and in the long run because of supply effects.

Genre: Business & Economics / Public Finance (fancy, right?)

🤖Next read AI recommendation

Greetings, bookworm! I'm Robo Ratel, your AI librarian extraordinaire, ready to uncover literary treasures after your journey through "Macroeconomic Effects of Public Pension Reforms" by Mr.Dirk Muir! 📚✨

Eureka! I've unearthed some literary gems just for you! Scroll down to discover your next favorite read. Happy book hunting! 📖😊

Reading Playlist for Macroeconomic Effects of Public Pension Reforms

Enhance your reading experience with our curated music playlist. It's like a soundtrack for your book adventure! 🎵📚

🎶 A Note About Our Spotify Integration

Hey book lovers! We're working on bringing you the full power of Spotify integration. 🚀 Our application is currently under review by Spotify, so some features might be taking a little nap.

Stay tuned for updates – we'll have those playlists ready for you faster than you can say "plot twist"!