Impact de l'introduction d'une dose de capitalisation en Tunisie: simulations à l'aide d'un modèle à générations imbriquées

Mehdi Ben Braham

Economie & Prévision, 2007, vol. n° 180-181, issue 4, 189-199

Abstract: This paper discusses the impact of aging on the financial equilibrium of the Tunisian retirement system and the macroeconomic implications of reform, including a partial switch to pre-funding. We use a stylized, closed economy and an overlapping-generation model to analyze the impact of the introduction of a multi-pillar system combining the pay-as-you-go (PAYG) and pre-funded approaches (including temporarily and permanently pre-funded plans). The analysis focuses on (1) the response of saving to the reform at the aggregate level and (2) cohort-specific accumulation and consumption profiles. The reform generates a strong crowding-out effect, restraining capital accumulation. Our simulations also show that the burden of the reform is spread unevenly among cohorts.

Keywords: retirement; simulations; aging (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:cai:ecoldc:ecop_180_0189

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