Pension Policies and Public Debt in Dynamic CGE Models

Population ageing raises a number of issues regarding the optimality of public debt policy and the systems of public pension provisions that are in use in developed countries. This volume contains studies which address these questions using computable general equilibrium models. The topics include: insights and new empirical estimates of future prospects of pay-as-you-go pension schemes in the "big seven" OECD countries; the possible distortions introduced by the pension systems in four large European economies; the effects of lifetime uncertainty in analyzing a potential reform of the Dutch pension system; effects of increasing international mobility of financial capital to pension policies; and public debt reduction policies in relation to possible adverse effects of taxation on wage formation and unemployment.