The Open Method of Co-ordination on Pensions - An Economic Analysis of its Effects on Pension Reforms
AbstractThis paper analyses the potential effects of the open method of co-ordination on pension reforms in the European Union from an economic point of view. The main results are: (1) For the first time, the Commission formally participates in the input of pension policy-formation of the member states, but without affecting their ultimate decision-making powers. (2) However, the OMC might foster yardstick competition and thus mutual learning from the reform experiences of other member states. (3) In contrast to that, no clear effects on the rent-seeking behaviour of special-interest groups and thus on their influence in shaping pension reforms can be derived. --
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Bibliographic InfoPaper provided by University of Rostock, Institute of Economics in its series Thuenen-Series of Applied Economic Theory with number 39.
Date of creation: 2003
Date of revision:
Pension Reform; EU Integration; Regulatory Competition;
Find related papers by JEL classification:
- E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
- G2 - Financial Economics - - Financial Institutions and Services
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- H7 - Public Economics - - State and Local Government; Intergovernmental Relations
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