Publication:
Reform and Backlash to Reform : Economic Effects of Ageing and Retirement Policy

Simple item page
dc.contributor.authorJensen, Svend E. Hougaard
dc.contributor.authorJorgensen, Ole Hagen
dc.date.accessioned2012-03-19T18:42:44Z
dc.date.available2012-03-19T18:42:44Z
dc.date.issued2010-11-01
dc.description.abstractUsing a stochastic general equilibrium model with overlapping generations, this paper studies (i) the effects on both extensive and intensive labor supply responses to changes in fertility rates, and (ii) the potential of a retirement reform to mitigate the effects of fertility changes on labor supply. In order to neutralize the effects on effective labor supply of a fertility decline, a retirement reform, designed to increase labor supply at the extensive margin, is found to simultaneously reduce labor supply at the intensive margin. This backlash to retirement reform requires the statutory retirement age to increase more than proportionally to fertility changes in order to compensate for endogenous responses of the intensity of labor supply. The robustness of this result is checked against alternative model specifications and calibrations relevant to an economic region such as Europe.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20101109093239
dc.identifier.doi10.1596/1813-9450-5470
dc.identifier.urihttps://hdl.handle.net/10986/3952
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 5470
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAGE COMPOSITION
dc.subjectAGGREGATE INCOME
dc.subjectALLOCATION OF RESOURCES
dc.subjectBABIES
dc.subjectBABY
dc.subjectBABY BOOM
dc.subjectBUSINESS CYCLE
dc.subjectCAPITAL INVESTMENT
dc.subjectCHANGES IN FERTILITY
dc.subjectCONSUMPTION INCREASES
dc.subjectCONTRIBUTION RATE
dc.subjectDEBT
dc.subjectDECLINE IN FERTILITY
dc.subjectDEMOGRAPHIC TRENDS
dc.subjectDEPENDENCY RATIOS
dc.subjectDISCOUNT RATE
dc.subjectDOWNWARD PRESSURE
dc.subjectEARLY RETIREMENT
dc.subjectECONOMIC DECISIONS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC IMPLICATIONS
dc.subjectECONOMIC THEORY
dc.subjectECONOMICS
dc.subjectELASTICITY
dc.subjectELASTICITY OF SUBSTITUTION
dc.subjectELDERLY
dc.subjectENDOGENOUS VARIABLES
dc.subjectEXOGENOUS VARIABLE
dc.subjectFERTILITY
dc.subjectFERTILITY DECLINE
dc.subjectFERTILITY RATE
dc.subjectFERTILITY RATES
dc.subjectFINANCIAL MARKETS
dc.subjectFISCAL POLICY
dc.subjectFUTURE RESEARCH
dc.subjectGENERAL EQUILIBRIUM
dc.subjectGLOBAL POPULATION
dc.subjectGROSS RETURN
dc.subjectGROWTH RATE
dc.subjectHUMAN CAPITAL
dc.subjectIMPERFECT COMPETITION
dc.subjectINCOME
dc.subjectINDEXATION
dc.subjectINNOVATIONS
dc.subjectINTERNATIONAL MOBILITY
dc.subjectLABOR ECONOMICS
dc.subjectLABOR MARKET
dc.subjectLABOR SUPPLY
dc.subjectLABOUR
dc.subjectLABOUR FORCE
dc.subjectLABOUR FORCES
dc.subjectLABOUR MARKET
dc.subjectLABOUR SUPPLY
dc.subjectLONGEVITY ADJUSTMENT
dc.subjectLOW FERTILITY
dc.subjectLOWER FERTILITY
dc.subjectMARKET EQUILIBRIUM
dc.subjectMONETARY POLICY
dc.subjectNUMBER OF CHILDREN
dc.subjectNUMBER OF WORKERS
dc.subjectOPPORTUNITY COST
dc.subjectOPTIMIZATION
dc.subjectOVERLAPPING GENERATIONS MODEL
dc.subjectPAYROLL TAX
dc.subjectPENSION
dc.subjectPENSION CONTRIBUTION
dc.subjectPENSION CONTRIBUTIONS
dc.subjectPENSION REFORM
dc.subjectPENSION SYSTEM
dc.subjectPENSION SYSTEMS
dc.subjectPOLICY MAKERS
dc.subjectPOLICY RESEARCH
dc.subjectPOLICY RESEARCH WORKING PAPER
dc.subjectPOLITICAL ECONOMY
dc.subjectPOPULATION DYNAMICS
dc.subjectPOPULATION GROWTH
dc.subjectPOPULATION GROWTH RATE
dc.subjectPRODUCTIVITY
dc.subjectPROGRESS
dc.subjectRATE OF GROWTH
dc.subjectREAL WAGES
dc.subjectREPLACEMENT RATE
dc.subjectRESPECT
dc.subjectRETIREES
dc.subjectRETIREMENT
dc.subjectRETIREMENT AGE
dc.subjectRETIREMENT PERIOD
dc.subjectRETIREMENT PERIODS
dc.subjectRETIREMENT POLICY
dc.subjectRETIREMENT SAVINGS
dc.subjectSOCIAL SECURITY
dc.subjectSOCIAL SECURITY REFORM
dc.subjectSURVIVAL PROBABILITIES
dc.subjectTAX RATE
dc.subjectTAXATION
dc.subjectUTILITY FUNCTION
dc.subjectWAGE RATE
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWORKER
dc.subjectWORKERS
dc.subjectWORKING HOURS
dc.titleReform and Backlash to Reform : Economic Effects of Ageing and Retirement Policyen
dspace.entity.typePublication
okr.crosscuttingsolutionareaJobs
okr.crossref.titleReform and backlash to reform: economic effects of ageing and retirement policy
okr.date.disclosure2010-11-01
okr.date.doiregistration2025-04-10T11:37:14.286730Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20101109093239
okr.globalpracticeSocial Protection and Labor
okr.globalpracticeHealth, Nutrition, and Population
okr.guid903951468329069203
okr.identifier.doi10.1596/1813-9450-5470
okr.identifier.externaldocumentum000158349_20101109093239
okr.identifier.internaldocumentum13044137
okr.identifier.reportWPS5470
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/11/09/000158349_20101109093239/Rendered/PDF/WPS5470.pdfen
okr.region.administrativeThe World Region
okr.region.administrativeThe World Region
okr.topicSocial Protections and Labor::Labor Policies
okr.topicHealth, Nutrition and Population::Population Policies
okr.topicHealth, Nutrition and Population
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
WPS5470.pdf
Size:
717.64 KB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
WPS5470.txt
Size:
73.53 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Policy Research Working Papers