Does the implicit pension debt mean anything after all?
AbstractWe 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 InfoPaper provided by Center for Research on Pensions and Welfare Policies, Turin (Italy) in its series CeRP Working Papers with number 118.
Length: 26 pages
Date of creation: Apr 2011
Date of revision:
Pension liabilities; implicit debt; sovereign debt.;
Find related papers by JEL classification:
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
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