Pension reform in the Czech republic
A Switch to Mixed System With Regard for Limits of Fiscal Policy
Bibliographic Data
| ID | 6109465 |
|---|---|
| Authors | David Marek (Nobel Foundation, corresponding author) |
| Year | 2008 |
| Volume | 56 |
| Issue | 1 |
| Pages | 80-101 |
| Publication date | 2008-02-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Politická ekonomie (JOURNAL) |
| Journal identifiers | ISSN: 0032-3233 • E-ISSN: 2336-8225 |
| Publisher | Prague University of Economics and Business (PUBLISHER • CZ) |
| DOI | 10.18267/j.polek.632 |
| OpenAlex | W2462347789 |
| Language | EN |
| Citations received | 2 |
| References cited | 10 |
The Czech Republic is going to face ageing of its population. It will affect the economy in many ways. The pension system is one of them. This paper provides a view on possibilities how to insure long-term stability of the pension system in the Czech Republic using a mix of pay-as-you-go and fully funded system. Simulations are based on OLG model, long-term demographic forecast and limits of fiscal policy stemming from the necessity to fulfill Maastricht criteria and The Stability and Growth Pact. Those obligations creates a frontier for plausible solutions. Results suggest that it is possible to find a solution for mixed system providing more favorable conditions than purely parametric changes of PAYG. Taking into account fiscal limits, the contribution rate to the FF pillar would be similar to the rates in other CEE countries where pension reform already started
Czech · Economic policy · Economics · European union · Fiscal policy · Frontier · Macroeconomics · Member states · Overlapping generations model · Pension · Pension system · Pillar · Political science · Population · Population ageing · Retirement age · Stability and Growth Pact · Finance · Financial Literacy, Pension, Retirement Analysis · Fiscal Policy and Economic Growth · Global Health Care Issues
| Unique citing works | 2 |
|---|---|
| Citations per year | 0.12 |
| Citation span | 2009 - 2011 (3) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 2 |