Generational accounting and Hungarian pension reform

Róbert I. Gál, Andras Simonovits () and Géza Tarcali

No 90343, The Social Policy and Labor Discussion Paper Series from The World Bank

Abstract: The essence of generational accounting is to break down total net contributions in a given year to each cohort and to project this profile into the future. Using additional assumptions on the discount rate and the growth of productivity and population, the per capita net contribution of future generations can be determined, which satisfies the inter-temporal budget constraint. Generational accounts in the Hungarian pension system show that the 1997 reform package significantly reduced the financial tension generated by demographic and institutional factors.

Keywords: Debt Markets; Emerging Markets; Pensions&Retirement Systems; Gender and Law; Economic Stabilization (search for similar items in EconPapers)
Date: 2001-10-01
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Citations: View citations in EconPapers (6)

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