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Pension Systems, Demographic Change, and the Stock Market

By: Hillebrand, Marten [author.].
Contributor(s): SpringerLink (Online service).
Material type: materialTypeLabelBookSeries: Lecture Notes in Economics and Mathematical Systems: 610Publisher: Berlin, Heidelberg : Springer Berlin Heidelberg, 2008.Description: X, 178 p. online resource.Content type: text Media type: computer Carrier type: online resourceISBN: 9783540779728.Subject(s): Business | Management science | Finance | Macroeconomics | Social policy | Population | Economics | Population Economics | Business and Management, general | Finance, general | Macroeconomics/Monetary Economics//Financial Economics | Social PolicyDDC classification: 330 Online resources: Click here to access online
Contents:
The Model -- The General Model -- The Parameterized Model -- The Simulation Study -- Pension Systems in the Presence of a Stationary Population -- Pension Systems in the Presence of Demographic Change -- Conclusions and Outlook.
In: Springer eBooksSummary: Due to the accelerating demographic change of the population the reform of the existing pension systems constitutes one of the greatest political challenges in most European countries. A theoretical discussion of different pension reforms must incorporate not only the demographic aspect but also the role of financial market risk and the impact on production and employment. These notes develop a dynamic macroeconomic model which incorporates these aspects within a flexible theoretical framework. The proposed approach provides a large scale population model and features a sound description of the production side as well as of the financial side of the economy and their interactions with the pension system. Within this framework various adjustment policies of the pension system are studied under different population scenarios. The consequences for the economy and the welfare of consumers are analyzed and compared.
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E books E books PK Kelkar Library, IIT Kanpur
Available EBK7179
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The Model -- The General Model -- The Parameterized Model -- The Simulation Study -- Pension Systems in the Presence of a Stationary Population -- Pension Systems in the Presence of Demographic Change -- Conclusions and Outlook.

Due to the accelerating demographic change of the population the reform of the existing pension systems constitutes one of the greatest political challenges in most European countries. A theoretical discussion of different pension reforms must incorporate not only the demographic aspect but also the role of financial market risk and the impact on production and employment. These notes develop a dynamic macroeconomic model which incorporates these aspects within a flexible theoretical framework. The proposed approach provides a large scale population model and features a sound description of the production side as well as of the financial side of the economy and their interactions with the pension system. Within this framework various adjustment policies of the pension system are studied under different population scenarios. The consequences for the economy and the welfare of consumers are analyzed and compared.

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