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Aging, Labor Markets and Pension Reform in Austria
Journal
FinanzArchiv
ISSN
0015-2218
ISSN-Digital
1614-0974
Type
journal article
Date Issued
2004-09-01
Author(s)
Abstract
This paper investigates the dynamic consequences of demographic change and various pension reform scenarios for Austria. The analysis is based on a computable overlapping-generations model with life-cycle labor supply, savings, and search unemployment. The public sector is decomposed into general government and an unfunded pension system with a tax - benefit linkage. Our quantitative analysis considers several pension reform scenarios on top of the demographic transition in an aging society. We find that lowering the pension replacement rate and increasing the retirement age can have strong labor-market effects. They strengthen the labor supply both with respect to job search intensity, leading to lower unemployment rates, and with respect to hours worked.
Language
English
Keywords
Pension Reform
CGE
Aging
Labor Markets.
HSG Classification
not classified
Refereed
No
Publisher
Mohr Siebeck
Publisher place
Tübingen
Volume
60
Number
3
Start page
359
End page
392
Pages
34
Subject(s)
Eprints ID
2096
File(s)