Pension Reform in the Baltics, Russia, and other Countries of the Former Soviet Union (BRO)
Pension Reform in the Baltics, Russia, and other Countries of the Former Soviet Union (BRO)

Author: International Monetary Fund

Publisher: International Monetary Fund

Published: 1998-02-01

Total Pages: 41

ISBN-13: 1451842759

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Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct the distortions in their pay-as-you-go (PAYG) pension systems. The paper reviews the measures taken by BRO countries during the transition period to address their pension problems and examines the options for further reform. It makes a strong case for a gradual reform approach aimed at establishing a multi-pillar system over the long run, but initially focused on implementation of “high-quality” reforms of the PAYG system.

Pension Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union (Bro).
Pension Reform in the Baltics, Russia, and Other Countries of the Former Soviet Union (Bro).

Author: Marta de Castello Branco

Publisher:

Published: 2006

Total Pages: 40

ISBN-13:

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Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct the distortions in their pay-as-you-go (PAYG) pension systems. The paper reviews the measures taken by BRO countries during the transition period to address their pension problems and examines the options for further reform. It makes a strong case for a gradual reform approach aimed at establishing a multi-pillar system over the long run, but initially focused on implementation of quot;high-qualityquot; reforms of the PAYG system.

Pension Reform in Europe
Pension Reform in Europe

Author: Camila Arza

Publisher: Routledge

Published: 2007-08-07

Total Pages: 290

ISBN-13: 1134134363

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This new book provides a cross-country comparative analysis of the key issues shaping the latest pension reforms in Europe: political games, welfare models and pathways, population reactions, and observed and expected outcomes. Pension reform has been a top policy priority for European governments in the last decade. Ageing populations, changing labour market patterns and the process of European integration are the ‘irresistible forces’ pushing for reform throughout the region. The Political Economy of Pension Reform evaluates the political forces that make pension reform viable in different national and institutional contexts and the nature of political bargains, actors and cleavages surrounding policy change. The volume also examines the nature and outcomes of pension reform experiences in Europe, searching for a solution to the financial challenge posed by growing pension budgets. By addressing the nature of change, the pathways of reform, and the outcomes of the new pension mix in the region, the authors conclude with an analysis of people’s perceptions and attitudes towards pension policy and their acceptance or otherwise of different reform options. This book will be of interest to students and scholars of international political economy, European politics, and social policy.

Pension Reform in Latin America and Its Lessons for International Policymakers
Pension Reform in Latin America and Its Lessons for International Policymakers

Author: Tapen Sinha

Publisher: Springer Science & Business Media

Published: 2012-12-06

Total Pages: 310

ISBN-13: 146154503X

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The experience of privatization of social security has been predominantly in the Latin American region. Eight countries have undertaken either full or partial privatization of pensions: Argentina, Bolivia, Chile, Colombia, El Salvador, Mexico, Peru, and Uruguay. What did the policymakers expect? Were expectations realized? Can we learn anything from the collective experience of these countries? Can they be applied to other countries that are aspiring to privatize? How did the World Bank and other international institutions affect these policies? Pension Reform in Latin America and Its Lessons for International Policymakers analyzes in detail these important questions. The book begins with a detailed account of economic conditions in Latin America. It then discusses various models that policymakers rely on. Starting with a purely demographic model, it lays out advanced models of overlapping generations of Samuelson. The book gives extensive details of privatized pensions in each of the eight reforming countries. Two chapters are devoted to analyzing the reform in each country. Finally, detailed lessons are drawn that will help shape the debate for policymakers in other countries.

IMF Staff papers, Volume 45 No. 2
IMF Staff papers, Volume 45 No. 2

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 1998-01-01

Total Pages: 204

ISBN-13: 1451974167

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This paper analyzes contagion and volatility with imperfect credit markets. The paper interprets contagion effects as an increase in the volatility of shocks impinging on the economy. The implications of this approach are analyzed in a model in which domestic banks borrow at a premium on world capital markets, and domestic producers borrow at a premium from domestic banks. Financial spreads depend on a markup that compensates lenders, in particular, for the expected cost of contract enforcement. Higher volatility increases financial spreads and the producers’ cost of capital.

Pension Developments and Reforms in Transition Economies
Pension Developments and Reforms in Transition Economies

Author: Mr.M. Cangiano

Publisher: International Monetary Fund

Published: 1998-10-01

Total Pages: 48

ISBN-13: 1451922914

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This paper reviews developments in pension systems in 11 transition economies during the 1990s, highlighting the forces behind their rapid weakening. It focuses on the challenges these systems face—including those arising from demographic factors—and discusses why most transition countries are considering shifting, or have already shifted, from traditional defined-benefit pay-as-you-go systems to defined-contribution fully funded systems. Finally, the paper looks at the main options that arise in introducing fully funded components, including the relative mix between funding and pay-as-you-go, and the speed of the transition toward the new system.