A Long-run Macroeconomic Model of the Slovak Republic (Long-term sustainability of the pension system)

Tomas Domonkos, Štefan Domonkos, Miroslava Jánošová and Filip Ostrihoň

No 6993, EcoMod2014 from EcoMod

Abstract: Using a complex long-run growth model, this paper investigates the long-term sustainability of the pension system in the Slovak Republic. The long-run growth model employed in the paper is able to perform projections for several decades ahead, which is necessary for this type of analysis. The model is composed of seven interrelated blocks. Special attention is dedicated to the labour market, social security and public sector. Instead of econometric estimations, the parameters are calibrated in accordance with economic theory. As an empirical application, we assess the long-term sustainability of the Slovak multi-pillar pension system in its latest form. Subsequently, we compare the economic effects of various hypothetical amendments to the existing social security legislation in the Slovak Republic.

Keywords: Slovak Republic; Public finance and tax issues; Impact and scenario analysis (search for similar items in EconPapers)
Date: 2014-07-03
New Economics Papers: this item is included in nep-age and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:ekd:006356:6993

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