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|z 9781451858495
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|a 1018-5941
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|a Schimmelpfennig, Axel.
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|a Pension Reform, Private Saving, and the Current Account in a Small Open Economy /
|c Axel Schimmelpfennig.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2000.
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|a 1 online resource (30 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The macroeconomic implications of a pension reform that substitutes a high-return fully-funded system for a low-return pay-as-you-go system are discussed in an overlapping generations, neoclassical growth model. With forward-looking individuals, a debt-financed reform worsens the current account, while a tax-financed reform leaves the current account unchanged. With myopic individuals, a debt-financed reform leaves the current account unchanged, while a tax-financed reform improves the current account. Hence, tax-financing, which is equivalent to pre-funding, should be the preferred reform strategy in a small open economy with a weak current account position.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2000/171
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2000/171/001.2000.issue-171-en.xml
|z IMF e-Library
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