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- Title
REDISTRIBUNÉ DÔSLEDKY ZAVEDENIA NEFINANNE PRÍSPEVKOVO DEFINOVANEJ SCHÉMY A KOREKNÉHO FAKTORA V PAYG SCHÉME V SR.
- Authors
ŠEBO, JÁN; DANKOVÁ, DANIELA; KRÁLIK, IVAN
- Abstract
Ongoing debates on the capping the retirement age in Slovakia have led to the analysis of alternative policies that would on one hand allow to limit the expected increase in the retirement age and at the same time would be able to tackle the rising retirement expenditures beyond the sustainable level. Experience with the notional defined contribution (NDC) schemes across various countries and recent trends in the implementation of automatic correction and balancing mechanisms into the public pay-as-you-go (PAYG) schemes has motivated us to examine the redistributional impacts under the conditions of Slovak PAYG scheme. Applying microsimulation model using stochastic moving block bootstraping techniques, we estimate the redistributional impacts of two selected polies. We have shown, that both policies will have direct negative impact on replacement ratios for all income cohorts. However, introduction of NDC scheme would lower the income solidarity and thus the income redistribution within the postproductive part of the population.
- Subjects
SLOVAKIA; RETIREMENT age; INCOME redistribution; STOCHASTIC models; CORRECTION factors; POLICY analysis
- Publication
Ecomomic Review / Ekonomické Rozhl'ady, 2019, Vol 48, Issue 1, p24
- ISSN
0323-262X
- Publication type
Article