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Does the implicit pension debt mean anything after all?

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Author Info

  • Luca Beltrametti

    ()
    (Department of Economics, University of Genoa)

  • Matteo Della Valle

    ()
    (Department of Economics, University of Genoa)

Abstract

We discuss the meaning of the concept of implicit pension debt (unfunded pension liabilities) from a public finance perspective and contrast different definitions such a variable with the notion of public debt. We conclude that the implicit pension is deeply different from public debt but nevertheless is meaningful for economic policy. We compute the implicit pension debt associated to retired workers for several countries for different years adopting a homogeneous algorithm. Our results show that the major countries have implicit pension debt of very different size with different trends in the last few years.

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Bibliographic Info

Paper provided by Center for Research on Pensions and Welfare Policies, Turin (Italy) in its series CeRP Working Papers with number 118.

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Length: 26 pages
Date of creation: Apr 2011
Date of revision:
Handle: RePEc:crp:wpaper:118

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Keywords: Pension liabilities; implicit debt; sovereign debt.;

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References

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  1. Robert Holzmann & Robert Palacios & Asta Zviniene, 2001. "On the Economics and Scope of Implicit Pension Debt: An International Perspective," Empirica, Springer, vol. 28(1), pages 97-129, March.
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Cited by:
  1. D. Blanchet & S. Le Minez, 2012. "Joint macro/micro evaluations of accrued-to-date pension liabilities: an application to French reforms," Documents de Travail de la DESE - Working Papers of the DESE g2012-14, Institut National de la Statistique et des Etudes Economiques, DESE.

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