01750cas a2200241 a 4500 AALejournalIMF005327 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451870596 1018-5941 BD-DhAAL BD-DhAAL Hauner, David. Macroeconomic Effects of Pension Reform in Russia / David Hauner. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (23 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Putting the pension system on a sustainable footing arguably remains the biggest challenge in Russia's economic policies. The debate about the policy options was hitherto constrained by the absence of general equilibrium analysis. This paper fills this gap by simulating their macroeconomic effects in a DSGE model calibrated to Russia's economy-the first of its kind to the best of our knowledge. The results suggest that a minimum benefit level in the public system should optimally be financed through lower government consumption, while higher taxation of labor and capital should be avoided. Reducing public investment spending is superior to increasing consumption taxes unless investment generates high rates of return. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2008/201 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/201/001.2008.issue-201-en.xml IMF e-Library