Aging, Labor Markets and Pension Reform in Austria

Christian Keuschnigg and Mirela Keuschnigg ()

University of St. Gallen Department of Economics working paper series 2004 from Department of Economics, University of St. Gallen

Abstract: This paper investigates the dynamic consequences of demographic change and various pension reform scenarios for Austria. The analysis is based on a computable overlapping generations model with life-cycle labor supply, savings, and search unemployment. The public sector is decomposed into general government and an unfunded pension system with a tax benefit linkage. Our quantitative analysis considers several pension reform scenarios on top of the demographic transition in an aging society. We find that lowering the pension replacement rate and increasing the retirement age can have strong labor market effects. They strengthen labor supply both in terms of job search intensity, leading to lower unemployment rates, and hours worked.

Keywords: Pension reform; demographic change; unemployment (search for similar items in EconPapers)
JEL-codes: C68 D58 E62 H55 J64 (search for similar items in EconPapers)
Pages: 44 pages
Date: 2004-03
New Economics Papers: this item is included in nep-eec, nep-hea and nep-reg
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (26)

Downloads: (external link)
http://ux-tauri.unisg.ch/RePEc/usg/dp2004/dp03_keuschnigg_ganz.pdf (application/pdf)

Related works:
Journal Article: Aging, Labor Markets, and Pension Reform in Austria (2004)
Working Paper: Aging, Labor Markets and Pension Reform in Austria (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:usg:dp2004:2004-03

Access Statistics for this paper

More papers in University of St. Gallen Department of Economics working paper series 2004 from Department of Economics, University of St. Gallen Contact information at EDIRC.
Bibliographic data for series maintained by Joerg Baumberger ( this e-mail address is bad, please contact ).