Long Run Biological Interest Rate for Pay As You Go Pensions in Advanced and Developing Countries is popular PDF and ePub book, written by Mr.Masahiro Nozaki in 2017-04-27, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Long Run Biological Interest Rate for Pay As You Go Pensions in Advanced and Developing Countries can be Read Online from any device for your convenience.
Long Run Biological Interest Rate for Pay As You Go Pensions in Advanced and Developing Countries Book PDF Summary
How much of an internal rate of return would a sustainable pay-as-you-go pension system offer current and future generations equally? The answer is the sum of the Long-Run Biological Interest Rates (LBIR), the real-world equivalent of Samuelson’s (1958) biological interest rate, and future productivity growth. Reflecting global population ageing, the median LBIR across 172 countries is as low as 1 percent per year. The LBIRs are particularly low in advanced countries, estimated to be negative in many of them, and require ample financial reserves today or future productivity growth to maintain participation in pension schemes. On the other hand, the LBIRs in less developed regions, such as in sub-Saharan Africa, are relatively high, indicating a potential to use a pay-as-you-go scheme to expand the coverage of public pensions. Raising the retirement age by five years brings up the LBIR by 40 basis points, significantly improving the long-run budget constraint of a pension scheme.
Detail Book of Long Run Biological Interest Rate for Pay As You Go Pensions in Advanced and Developing Countries PDF
- Author : Mr.Masahiro Nozaki
- Release : 27 April 2017
- Publisher : International Monetary Fund
- ISBN : 9781475596526
- Genre : Business & Economics
- Total Page : 26 pages
- Language : English
- PDF File Size : 12,6 Mb
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