02003cas a2200277 a 4500 AALejournalIMF006957 230101c9999 xx r poo 0 0eng d 5.00 USD 9781455211784 1018-5941 BD-DhAAL BD-DhAAL Pereira, Joana. Macroeconomic Effects of Public Pension Reforms / Joana Pereira, Philippe Karam, Dirk Muir, Anita Tuladhar. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (63 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 The paper explores the macroeconomic effects of three public pension reforms, namely an increase in retirement age, a reduction in benefits and an increase in contribution rates. Using a five-region version of the IMF's Global Integrated Monetary and Fiscal model (GIMF), we find that public pension reforms can have a positive effect on growth in both the short run, propelled by rising consumption, and in the long run, due to lower government debt crowding in higher investment. We also find that a reform action undertaken cooperatively by all regions results in larger output effects, reflecting stronger capital accumulation due to higher world savings. An increase in the retirement age reform yields the strongest impact in the short run, due to the demand effects of higher labor income and in the long run because of supply effects. Mode of access: Internet Karam, Philippe. Muir, Dirk. Tuladhar, Anita. IMF Working Papers; Working Paper ; No. 2010/297 Full text available on IMF http://elibrary.imf.org/view/journals/001/2010/297/001.2010.issue-297-en.xml IMF e-Library