Differential Mortality and the Design of the Italian System of Public Pensions
AbstractThis paper considers the issue of actuarial fairness of the new Italian public pension system in view of the recent trends in old-age mortality and the survival differences by gender, birth cohort and region of residence.3 Section 2 reviews the secular trends in elderly mortality in Italy, separately for men and women, and draws some implications for long-run demographic projections. It also considers regional differences in survival and their evolution over the last three decades. Section 3 evaluates the impact, on the conversion factors introduced by the Dini reform, of a further decline in elderly mortality over the next few decades, focusing on the period when the reform will be fully phased in. It also computes the conversion factors using a close approximation to the unknown formula employed in the Dini reform but allowing for gender- and region-specific survival probabilities. The distance between the original conversion factors and those obtained by allowing for differential survival across socio-demographic groups provides a quantitative assessment of the implicit redistributive impacts of the reform. Finally, Section 4 offers some conclusions.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by CEIS in its journal Labour.
Volume (Year): 17 (2003)
Issue (Month): SpecialIssue (08)
Contact details of provider:
Postal: Via Columbia, 2 00133 Roma
Phone: 0039 06 2040234
Fax: 0039 06 2020687
Web page: http://www.blackwellpublishing.com/journal.asp?ref=1121-7081
More information through EDIRC
Other versions of this item:
- Graziella Caselli & Franco Peracchi & Elisabetta Barbi & Rosa Maria Lipsi, 2002. "Differential Mortality And The Design Of The Italian System Of Public Pensions," CHILD Working Papers wp07_02, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
- C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
- D10 - Microeconomics - - Household Behavior - - - General
- J10 - Labor and Demographic Economics - - Demographic Economics - - - General
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Agar Brugiavini & Franco Peracchi, 2008.
"Youth Unemployment and Retirement of the Elderly: the Case of Italy,"
2008_45, Department of Economics, University of Venice "Ca' Foscari".
- Agar Brugiavini & Franco Peracchi, 2010. "Youth Unemployment and Retirement of the Elderly: The Case of Italy," NBER Chapters, in: Social Security Programs and Retirement around the World: The Relationship to Youth Employment, pages 167-215 National Bureau of Economic Research, Inc.
- Carlo Mazzaferro & Marco Savegnago, 2008.
"Differential Mortality and Redistribution in the Italian Notional Defined Contribution System,"
Center for the Analysis of Public Policies (CAPP)
0047, Universita di Modena e Reggio Emilia, Dipartimento di Economia Politica.
- Mazzaferro, Carlo & Morciano, Marcello & Savegnago, Marco, 2012. "Differential mortality and redistribution in the Italian notional defined contribution system," Journal of Pension Economics and Finance, Cambridge University Press, vol. 11(04), pages 500-530, October.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.