Demographic Transition Pension Schemes Investment And The Financial Market
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Ageing, Financial Markets and Monetary Policy
Author | : Alan J. Auerbach |
Publisher | : Springer Science & Business Media |
Total Pages | : 353 |
Release | : 2013-11-11 |
Genre | : Business & Economics |
ISBN | : 3662047799 |
The book gives an overview of the implications of population ageing on economic development and financial systems. It describes several challenges which the ageing process poses for central banks, giving special consideration to the situation in Europe. The first two chapters discuss the relationship between ageing and saving and between ageing and international capital flows. Other chapters consider the possible implications for financial markets. The final part raises issues which are of particular relevance for central banks, namely ageing and financial stability and how ageing will affect monetary policy.
Aging Population, Pension Funds, and Financial Markets
Author | : Robert Holzmann |
Publisher | : World Bank Publications |
Total Pages | : 196 |
Release | : 2009 |
Genre | : Business & Economics |
ISBN | : |
Population aging is a worldwide phenomenon, but it is particularly advanced in highly developed northern countries. The retirement of the baby-boom generation in these rich countries will impose additional, albeit temporary, pressure on their pension systems. To cope with this pressure, reforms have been introduced that have lessened the generosity of publicly provided pension benefits. By design and by implication, this change increases the importance of mandatory and voluntary funded retirement schemes in smoothing consumption across the life cycle. The first three chapters of this book investigate questions germane to pension systems in the Central, Eastern, and Southern Europe (CESE) economies: the extent to which pension systems were prepared to deal with multi pillar pension reform, how to foster the development of financial systems so that they can better support funded systems, and how ready the systems are for the approaching payout of benefits as the first participants in the funded pillar approach retirement age. The remaining three chapters investigate broader questions facing pension systems in both developed and emerging countries: the capacity of the financial markets to deliver sufficiently high net rates of return, the benefits and disadvantages of investment in emerging markets, and the effect of aging on the rates of return afforded by funded and unfunded schemes.
Financial Market Trends Ageing and Pension System Reform: Implications for Financial Markets and Economic Policies
Author | : OECD |
Publisher | : OECD Publishing |
Total Pages | : 117 |
Release | : 2005-11-16 |
Genre | : |
ISBN | : 9264035761 |
This OECD 2005 report, prepared at the request of Deputies of the G10, reviews economic consequences of ageing populations for financial markets and recommends that governments help facilitate development of financial instruments to support retirement savings and pensions.
Pension Systems, Demographic Change, and the Stock Market
Author | : Marten Hillebrand |
Publisher | : Springer Science & Business Media |
Total Pages | : 178 |
Release | : 2008-10-16 |
Genre | : Political Science |
ISBN | : 3540779728 |
Due to the accelerating demographic change of the population the reform of the existing pension systems constitutes one of the greatest political challenges in most European countries. A theoretical discussion of different pension reforms must incorporate not only the demographic aspect but also the role of financial market risk and the impact on production and employment. These notes develop a dynamic macroeconomic model which incorporates these aspects within a flexible theoretical framework. The proposed approach provides a large scale population model and features a sound description of the production side as well as of the financial side of the economy and their interactions with the pension system. Within this framework various adjustment policies of the pension system are studied under different population scenarios. The consequences for the economy and the welfare of consumers are analyzed and compared.
Aging and the Macroeconomy
Author | : National Research Council |
Publisher | : National Academies Press |
Total Pages | : 230 |
Release | : 2013-01-10 |
Genre | : Social Science |
ISBN | : 0309261961 |
The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Economic Challenges of Pension Systems
Author | : Marta Peris-Ortiz |
Publisher | : Springer Nature |
Total Pages | : 487 |
Release | : 2020-03-20 |
Genre | : Business & Economics |
ISBN | : 3030379124 |
This book examines the major economic challenges associated with the sustainability of public pensions, specifically demographic change, labor-market relations, and risk sharing. The issue of public pensions occupies the political and economic agendas of many major governments in the world. International organizations such as the World Bank and the OECD warn that the economic changes driven by an aging society negatively affects the sustainability of pension systems. This book analyzes different global public pension systems to offer policies, methods and tools for sustainable public pensions. Real case studies from France, Sweden, Latin America, Algeria, USA and Mexico are featured.
Pensions Policy
Author | : Anthony Neuberger |
Publisher | : Centre for Economic Policy Research |
Total Pages | : 100 |
Release | : 2003 |
Genre | : Capital market |
ISBN | : 9781898128816 |
David McCarthy and Anthony Neuberger review the research that has been done internationally in the area of pensions policy.
Pension Reform, Financial Market Development, and Economic Growth
Author | : Mr.Robert Holzmann |
Publisher | : International Monetary Fund |
Total Pages | : 52 |
Release | : 1996-08-01 |
Genre | : Business & Economics |
ISBN | : 1451950756 |
The Chilean pension reform of 1981, in which Chile moved from an unfunded to a funded scheme, is considered to have contributed to this country’s excellent economic performance since the mid-1980s. The paper highlights the theoretical underpinnings of the claimed economic effects and presents empirical data and preliminary econometric testing of the conjectured growth, capital formation, and saving effects. The empirical evidence is consistent with most of the claims. In particular, the direct impact of financial market development on private saving is found to be negative, which underscores the importance of sound fiscal policy and public saving to support the transition.
The Demographic Dividend
Author | : David Bloom |
Publisher | : Rand Corporation |
Total Pages | : 127 |
Release | : 2003-02-13 |
Genre | : Social Science |
ISBN | : 0833033735 |
There is long-standing debate on how population growth affects national economies. A new report from Population Matters examines the history of this debate and synthesizes current research on the topic. The authors, led by Harvard economist David Bloom, conclude that population age structure, more than size or growth per se, affects economic development, and that reducing high fertility can create opportunities for economic growth if the right kinds of educational, health, and labor-market policies are in place. The report also examines specific regions of the world and how their differing policy environments have affected the relationship between population change and economic development.