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The Macroeconomics of the Pension Fund Reform and the case of the TFR reform in Italy

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  • Sergio Cesaratto

Abstract

The controversial saving-investment relationship is central to macroeconomics, but in this capacity – perhaps less evidently – it is also central to the macroeconomics of pension reforms. Bearing this in mind, in this paper we shall review the main issues concerning these reforms and examine the recent attempt to enlarge the fully funded component of the pension system in Italy by employing the resources accumulated by firms on behalf of workers within the ‘Trattamento di Fine Rapporto’ scheme (a sort of severance pay scheme).

Suggested Citation

  • Sergio Cesaratto, 2008. "The Macroeconomics of the Pension Fund Reform and the case of the TFR reform in Italy," Department of Economics University of Siena 549, Department of Economics, University of Siena.
    • Handle: RePEc:usi:wpaper:549
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    Cited by:

    1. Holzmann, Robert & Pouget, Yann & Vodopivec, Milan & Weber, Michael, 2011. "Severance pay programs around the world : history, rationale, status, and reforms," Social Protection Discussion Papers and Notes 62726, The World Bank.

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    More about this item

    JEL classification:

    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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