Macroeconomic performance and the design of public pension programmes
Citation:
Disney, Richard. 'Macroeconomic performance and the design of public pension programmes'. - Economic & Social Review, Vol. 37, No. 2, Summer/Autumn, 2006, pp. 175-195, Dublin: Economic & Social Research InstituteDownload Item:
Abstract:
I examine the impact of the design of the Irish public pension programme on two
dimensions of Ireland?s macroeconomic performance: employment and the average saving rate. Two facets of the programme might affect these outcomes: the lack of generosity of the programme relative to other OECD countries, and the high degree of redistribution embedded in the programme. These characteristics suggest that the programme has little `crowding out? effect on saving rates. For employment rates, the two facets have contradictory effects that ultimately cancel out in their aggregate effect. These findings are illustrated by using a cross-country analysis to simulate a counterfactual where Ireland instead had a pension programme with the average characteristics of OECD countries (i.e., both more generous and less redistributive).
Description:
An earlier version was presented at the Conference on Macroeconomic Perspectives in Honour of Brendan M. Walsh, held at University College Dublin on 7 October, 2005
Author: Disney, Richard
Publisher:
Economic & Social StudiesType of material:
Conference PaperJournal Article
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Full text availableKeywords:
Macroeconomic performance, Public pensions, IrelandISSN:
0012-9984Metadata
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