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Does pension debt mean anything after all?

Luca Beltrametti and Matteo Della Valle

MPRA Paper from University Library of Munich, Germany

Abstract: We discuss the meaning of the concept of implicit pension debt (unfunded pen-sion liabilities) from a public finance perspective and contrast different definitions such a variable with the notion of public debt. We conclude that the implicit pen-sion is deeply different from public debt but nevertheless is meaningful for eco-nomic policy. We compute the implicit pension debt associated to retired workers for several countries for different years adopting a homogeneous algorithm. Our results show that the major countries have implicit pension debt of very different size with different trends in the last few years.

Keywords: Pension liabilities; implicit debt; sovereign debt. (search for similar items in EconPapers)
JEL-codes: H55 H63 (search for similar items in EconPapers)
Date: 2011-03-18
New Economics Papers: this item is included in nep-age
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