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Company Pension Plans, Stock Market Returns, and Labor Demand

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Author Info
Enrica Detragiache

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Abstract

With asset values falling sharply in recent years, many companies around the world are under pressure to restore the solvency of their defined-benefit pension plans. Will this lead to higher contributions? Will higher contributions increase labor costs and reduce employment? Does this mechanism exacerbate economic downturns? What are the economic effects of pension fund regulation? This paper develops a theoretical model to address these questions. Although its scope is more general, the model captures the main institutional features of the pension system in the Netherlands, a country where the economic effects of the pension shock are widely debated.

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Publisher Info
Paper provided by International Monetary Fund in its series IMF Working Papers with number 03/222.

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Length: 18 pages
Date of creation: 26 Nov 2003
Date of revision:
Handle: RePEc:imf:imfwpa:03/222

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Related research
Keywords: Pensions Netherlands Stock markets Labor market policy

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Gustman, A.L. & Mitchell, O.S. & Steinmeier, T.L., 1993. "The Role of Pensions in the Labor Market," Papers 93-07, Cornell - Center for Advanced Human Resource Studies.
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  2. David Carey, 2002. "Coping with Population Ageing in the Netherlands," OECD Economics Department Working Papers 325, OECD Economics Department. [Downloadable!]
  3. Bodie, Zvi, 1990. "Pensions as Retirement Income Insurance," Journal of Economic Literature, American Economic Association, vol. 28(1), pages 28-49, March. [Downloadable!] (restricted)
  4. Julia Lynn Coronado & Steven A. Sharpe, 2003. "Did pension plan accounting contribute to a stock market bubble?," Finance and Economics Discussion Series 2003-38, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
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This page was last updated on 2008-7-18.

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