Does pension debt mean anything after all?
AbstractWe discuss the meaning of the concept of implicit pension debt (unfunded pen-sion liabilities) from a public finance perspective and contrast different definitions such a variable with the notion of public debt. We conclude that the implicit pen-sion is deeply different from public debt but nevertheless is meaningful for eco-nomic 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 University Library of Munich, Germany in its series MPRA Paper with number 29694.
Date of creation: 18 Mar 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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