Pregled bibliografske jedinice broj: 1044503
Public Pension Expenditure in the New EU Member States: A Panel Data Approach
Public Pension Expenditure in the New EU Member States: A Panel Data Approach // 13th International Conference: “Challenges of Europe: Growth, Competitiveness, Innovation and Well-being”
Bol, Hrvatska, 2019. (predavanje, međunarodna recenzija, neobjavljeni rad, znanstveni)
CROSBI ID: 1044503 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
Public Pension Expenditure in the New EU Member States: A Panel Data Approach
Autori
Škuflić, Lorena ; Krpan, Mira ; Pavković, Ana
Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, neobjavljeni rad, znanstveni
Skup
13th International Conference: “Challenges of Europe: Growth, Competitiveness, Innovation and Well-being”
Mjesto i datum
Bol, Hrvatska, 22.05.2019. - 24.05.2019
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
Pension System ; PAYG ; New EU Member States ; Sustainability ; Convergence
Sažetak
Sustainability and stability of the public pension systems based on a pay-as-you-go (PAYG) social security scheme has been challenged by aging society of industrial economies. Declining fertility rates and increased life expectancy lead to an increasing share of elderly people in the population, as well as rising age-related expenditure. They are further aggravated in the New Member States of the European Union by poor design characteristics of their pension systems and weak labor market performances in the transition period. Even though the pension systems of the countries differ, EU members are regulated by the same directives and membership implies convergence over time. This paper aims to verify whether there is convergence in the value of expenditure on public pensions between the New Member States and to identify the main determinants of public pension expenditure as a fraction of gross domestic product by integrating demographic, macroeconomic and design features of public pension system within a coherent panel data model for the period 1995-2017. Our dynamic panel data model enables a simultaneous investigation of the probable convergence of spending on public pensions between analyzed economies in the observed period. Early retirement, eased retirement criteria, generous replacement rates and relatively high share of disability pensions are identified as main incentives for reforms of the pension schemes.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
POVEZANOST RADA
Ustanove:
Ekonomski fakultet, Zagreb
