Pension systems, intergenerational risk sharing and inflation

Roel Beetsma and Lans Bovenberg

No 257, European Economy - Economic Papers 2008 - 2015 from Directorate General Economic and Financial Affairs (DG ECFIN), European Commission

Abstract: Everywhere in the industrialized world, population aging is putting social security systems under financial strain. As a result, social security systems are being reformed in many countries. In particular, various countries move from pure pay-as-you-go (PAYG) systems to pension systems that include a larger funded component. At the same time, definedbenefit systems in which benefits are guaranteed by public or corporate sponsors are being replaced by defined-contribution systems in which benefits are subject to various risks.

Keywords: (funded) pensions; fiscal policy; nominal assets; risk-sharing; overlapping generations; Beetsma; Bovenberg (search for similar items in EconPapers)
Pages: 29 pages
Date: 2006-10
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https://ec.europa.eu/economy_finance/publications/pages/publication636_en.pdf (application/pdf)

Related works:
Working Paper: Pension systems, Intergenerational Risk Sharing and Inflation (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:euf:ecopap:0257

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