Pensions, Purchasing-Power Risk, Inflation and Indexation [E-Book] / Edward Whitehouse
The rapid rise in inflation in 2006-07 has attracted attention – once again – both to how pensions systems should react to changes in prices, and to how they do so in practice. Although inflation is now falling as a result of lower commodity prices and weakening demand, this brings with it the risk...
Saved in:
Full text |
|
Personal Name(s): | Whitehouse, Edward. |
Imprint: |
Paris :
OECD Publishing,
2009
|
Physical Description: |
41 p. ; 21 x 29.7cm. |
Note: |
englisch |
DOI: |
10.1787/227182142567 |
Series Title: |
/* Depending on the record driver, $field may either be an array with
"name" and "number" keys or a flat string containing only the series
name. We should account for both cases to maximize compatibility. */?>
OECD Social, Employment and Migration Working Papers ;
77 |
Keywords: |
Social Issues/Migration/Health |
LEADER | 02363caa a22002778i 4500 | ||
---|---|---|---|
001 | ZB02958 | ||
003 | OECD iLibrary | ||
008 | 121101s2009 fr o i|0| 0 eng d | ||
024 | 7 | |a 10.1787/227182142567 |2 doi | |
035 | |a (Sirsi) a489845 | ||
041 | |a eng | ||
100 | 1 | |a Whitehouse, Edward. | |
245 | 1 | 0 | |a Pensions, Purchasing-Power Risk, Inflation and Indexation |h [E-Book] / |c Edward Whitehouse |
264 | |a Paris : |b OECD Publishing, |c 2009 |e (OECD iLibrary) | ||
300 | |a 41 p. ; |c 21 x 29.7cm. | ||
336 | |a Text |b txt |2 rdacontent | ||
337 | |a Computermedien |b c |2 rdamedia | ||
338 | |a Online-Ressource |b cr |2 rdacarrier | ||
490 | |a OECD Social, Employment and Migration Working Papers ; |v 77 | ||
500 | |a englisch | ||
520 | 3 | |a The rapid rise in inflation in 2006-07 has attracted attention – once again – both to how pensions systems should react to changes in prices, and to how they do so in practice. Although inflation is now falling as a result of lower commodity prices and weakening demand, this brings with it the risk of deflation – falling prices – which also raises questions as to how pension systems should react. Most OECD countries have a legislated commitment to indexation of pensions in payment. However, the empirical evidence in this paper shows that these rules have frequently been over-ridden. Furthermore, because indexation to price inflation rather than wage inflation is much more common – and wages can be expected to rise more rapidly than prices – the effect of following legislated indexation rules will be to reduce pensioner incomes compared with those of the working-age population. However, indexation to prices is less costly, allowing a larger initial pension than under earnings indexation for a given budget constraint. This paper sets out current, national indexation policies and historical data on how pensions have been adjusted in practice. It examines different indexation policies: to prices, earnings or a mix of the two; the choice of the price index and progressive indexation (where smaller pensions are increased more rapidly than larger). | |
653 | |a Social Issues/Migration/Health | ||
856 | 4 | 0 | |u http://dx.doi.org/10.1787/227182142567 |z Volltext |
915 | |a zzwFZJ3 | ||
596 | |a 1 | ||
949 | |a XX(489845.1) |w AUTO |c 1 |i 489845-1001 |l ELECTRONIC |m ZB |r N |s Y |t E-BOOK |u 5/2/2016 |x UNKNOWN |z UNKNOWN |1 ONLINE |