Ageing, Financial Markets and Monetary Policy

ISBN 10: 3540427279 / ISBN 13: 9783540427278

Published by Springer, 2002

About this Item

Print on Demand pp. 364 Illus.

Seller Inventory # 6350506

Bibliographic Details

• Title: Ageing, Financial Markets and Monetary Policy
• Publisher: Springer
• Publication Date: 2002
• Language: English
• ISBN 10: 3540427279
• ISBN 13: 9783540427278
• Binding: Hardcover
• Condition: New

About this title

Synopsis

net income. It draws on the experience gained when the social security system in Italy was reformed in the early 1990s, which led to drastic reductions in the number of claims against the statutory pension scheme. The various sectors of the population (elderly people, young people, public employees as opposed to private­ sector employees, etc.) were affected to differing degrees. From Brugiavini's estimates, it becomes clear that a reduction in claims against the statutory pension system has led to a markedly increased willingness to save, particularly in the sectors of the population which were most affected. Reinhold Schnabel starts by discussing possible consequences of a pension cut from a German perspective. He discusses possible effects on saving and labour supply. In the second part of his comments he questions whether all of Brugiavini's interpretations of the "Italian experiment" are convincing. He doubts in particular, whether the reform was unexpected.