Increasing Dependency Ratios, Pensions, and Tax Smoothing

September 1, 1998

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The implication of increasing dependency ratios for pay-as-you-go, defined-benefit pension programs are examined. Modifications aimed at smoothing contributions while maintaining benefits intact are analyzed for both open and closed economies.

Subject: Currencies, Expenditure, Labor, Money, Pension spending, Pensions, Retirement

Keywords: a pay-as-you-go, capital import, capital market, capital market arbitrage, capital share, closed economy, Currencies, defined-benefit pension, defined-contribution pension, Dependency ratios, exchange rate, fully funded, Global, pension program, Pension spending, Pensions, production function, rate of return, real exchange rate risk, Retirement, tax hike, tax smoothing, WP

Pages:
16
Volume:
1998
DOI:
https://doi.org/10.5089/9781451934861.001
Issue:
129
Series:
Working Paper No. 1998/129
Stock No:
WPIEA1291998
ISBN:
9781451934861
ISSN:
1018-5941

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