Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/83333
Authors: 
Dušek, Libor
Kopecsni, Juraj
Year of Publication: 
2008
Series/Report no.: 
IES Working Paper 9/2008
Abstract: 
We provide evidence on the policy risk of social security in Hungary, Czech Republic and Slovakia by computing the changes in the social security wealth induced by the pension reforms undertaken since the 1990s. Methodologically we follow upon McHale' (2001) study of selected reforms in G7 countries. However, as we measure the differential impact of the reform on workers of different genders, ages, and levels of education, we are able to capture the aggregate, intergenerational, and intragenerational aspects of the policy risk. Overall, the paper documents that also a pay-as-you-go system is not a secure source of retirement income since pension reforms do change the future contributions and benefits in different directions for different workers, and the magnitude of the reductions in social security wealth sometimes exceeds several years' worth of the workers' earnings.
Subjects: 
social security
policy risk
pension reforms
JEL: 
H55
G32
P35
Document Type: 
Working Paper
Appears in Collections:

Files in This Item:
File
Size
541.58 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.