[go: up one dir, main page]

IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/1997-010.html
   My bibliography  Save this paper

From Generosity to Sustainability: The Austrian Pension System and Options for its Reform

Author

Listed:
  • Mr. Christian Thimann
  • Mr. Manfred Koch
Abstract
Austria has probably the world’s highest pension expenditures relative to its economic size, largely because of the generosity of its pension system. This paper examines the institutional setup of the Austrian pension system and projects its future development based on current policies. The projection results show a swift financial worsening. With the already high level of contribution rates, pension expenditures, and budget transfers, the results underscore the need for reform. Much of this reform can, however, be achieved by maintaining the structure of the system and adjusting some of its key parameters. The paper outlines options for such a reform.

Suggested Citation

  • Mr. Christian Thimann & Mr. Manfred Koch, 1997. "From Generosity to Sustainability: The Austrian Pension System and Options for its Reform," IMF Working Papers 1997/010, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:1997/010
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=2092
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Georg Busch, 1992. "Sozialpolitik zu kurzfristig orientiert. Zur Entwicklung der sozialen Sicherheit im Jahr 1991," WIFO Monatsberichte (monthly reports), WIFO, vol. 65(8), pages 421-427, August.
    2. Paul van den Noord & Richard Herd, 1993. "Pension Liabilities in the Seven Major Economies," OECD Economics Department Working Papers 142, OECD Publishing.
    3. Holzmann, Robert, 1993. "Economic Aspects of Pension Reform in OECD Countries," Public Finance = Finances publiques, , vol. 48(Supplemen), pages 293-308.
    4. Georg Busch, 1986. "Nur langsame Konsolidierung der Sozialbudgets. Die Entwicklung der sozialen Sicherheit im Jahr 1985," WIFO Monatsberichte (monthly reports), WIFO, vol. 59(6), pages 398-406, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bravo, Jorge H., 2001. "The Chilean Pension System: A Review of Some Remaining Difficulties After 20 Years of Reform," Discussion Paper 7, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
    2. K. Mc Morrow & W. Röger, 2002. "EU pension reform - An overview of the debate and an empirical assessment of the main policy reform options," European Economy - Economic Papers 2008 - 2015 162, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    3. Lex Meijdam & Harrie Verbon, 1996. "Aging and political decision making on public pensions," Journal of Population Economics, Springer;European Society for Population Economics, vol. 9(2), pages 141-158, June.
    4. Meijdam, Lex & Verbon, Harrie A A, 1997. "Aging and Public Pensions in an Overlapping-Generations Model," Oxford Economic Papers, Oxford University Press, vol. 49(1), pages 29-42, January.
    5. Siebert, Horst, 1997. "Pay-as-you-go versus capital funded pension systems: the issues," Kiel Working Papers 816, Kiel Institute for the World Economy (IfW Kiel).
    6. Luboš Smrčka & Markéta Arltová, 2012. "Ekonomické aspekty stárnutí populace ve vyspělých zemích [Economic Aspects of Population Ageing in Developed Countries]," Politická ekonomie, Prague University of Economics and Business, vol. 2012(1), pages 113-132.
    7. Klaus Kaier & Christoph Müller, 2015. "New figures on unfunded public pension entitlements across Europe: concept, results and applications," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 42(4), pages 865-895, November.
    8. Thierry Chauveau & Rahim Loufir, 1995. "L'avenir des régimes publics de retraite dans les pays du G7," Revue de l'OFCE, Programme National Persée, vol. 52(1), pages 49-103.
    9. Klaus-Jürgen Gern, 2002. "Recent Developments in Old Age Pension Systems: An International Overview," NBER Chapters, in: Social Security Pension Reform in Europe, pages 439-478, National Bureau of Economic Research, Inc.
    10. Bravo, Jorge Horacio, 2000. "Population ageing and pension systems in Latin America," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    11. Zheng Song & Kjetil Storesletten & Fabrizio Zilibotti, 2012. "Rotten Parents and Disciplined Children: A Politico‐Economic Theory of Public Expenditure and Debt," Econometrica, Econometric Society, vol. 80(6), pages 2785-2803, November.
    12. Holzmann, Robert & Palacios, Robert & Zviniene, Asta, 2004. "Implicit pension debt: issues, measurement and scope in international perspective," Social Protection Discussion Papers and Notes 30153, The World Bank.
    13. Qureshi, Zia, 1995. "Do we face a global"capital shortage"?," Policy Research Working Paper Series 1526, The World Bank.
    14. Paul Klumpes, 2003. "Determinants of government underfunded public pension liabilities in the OECD," European Accounting Review, Taylor & Francis Journals, vol. 12(3), pages 489-513.
    15. Robert Fenge & Martin Werding, 2004. "Ageing and the tax implied in public pension schemes: simulations for selected OECD countries," Fiscal Studies, Institute for Fiscal Studies, vol. 25(2), pages 159-200, June.
    16. Heidler, Matthias & Müller, Christoph & Weddige, Olaf, 2009. "Measuring accrued-to-date liabilities of public pension systems: Method, data and limitations," FZG Discussion Papers 37, University of Freiburg, Research Center for Generational Contracts (FZG).
    17. Paul R. Masson & Michael Mussa, 1995. "Long-term tendencies in budget deficits and debt," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 5-55.
    18. Aleksey Pasynkov, 2018. "Funding Pension System of Russia in the Categories of National Accounts," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 1356-1369.
    19. Turalay Kenc & William Perraudin, 1997. "European pension systems: a simulation analysis," Fiscal Studies, Institute for Fiscal Studies, vol. 18(3), pages 249-277, August.
    20. Deborah Mitchell & Ann Harding & Fred Gruen, 1994. "Targeting Welfare," The Economic Record, The Economic Society of Australia, vol. 70(210), pages 315-340, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:1997/010. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.