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Early Announcement of a Public Pension Reform in Italy: Working Paper 2006-01

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  • Maria I. Marika Santoro

Abstract

There has been much discussion about the need for public pension reforms in most of the Organization for Economic Cooperation and Development (OECD) countries, but what is the macroeconomic impact of announcing reforms in advance? The Italian pension system reform in 1992 represents an illustrative case to address this question. The Italian government announced the pension system reform with the aim of slowing the growth of the system’s expenditures by raising the eligibility retirement age. The present paper develops an overlapping generations (OLG) model, with endogenous

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  • Maria I. Marika Santoro, 2006. "Early Announcement of a Public Pension Reform in Italy: Working Paper 2006-01," Working Papers 17588, Congressional Budget Office.
    • Handle: RePEc:cbo:wpaper:17588
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