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Estimating the macroeconomic impact of pension reform scenarios in Greece
 
Category: Fiscal Policy
SubCategory: -
Date: 29/06/2021
 
The study estimates the macroeconomic impact stemming from the implementation of a pension reform scenario. The reform scenario concerns the transformation of the current supplementary insurance to a fully funded insurance pillar. At the new steady state, a part of pensions will be covered by accumulated private savings, while in the meantime the accumulation of reserves will serve as a pool for funding new productive investments in the real economy, albeit creating some funding gap during the transition period. The analysis quantifies the expected macroeconomic impact of the pension reform on the economy’s long run growth prospects, including through enhanced investments and productivity, while taking into account its effects on public finances as well as the transition costs and the related need for interim funding.
 

 
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