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Does pension debt mean anything after all?

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  • Beltrametti, Luca
  • Della Valle, Matteo

Abstract

We 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 Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 29694.

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Date of creation: 18 Mar 2011
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Handle: RePEc:pra:mprapa:29694

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

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