Arbeitspapier
A long-term evaluation of recent Hungarian pension reforms
This paper studies the effect of Hungarian pension reforms between 2009-2012 on the adequacy and long-term fiscal stability of the Hungarian public pension system. For the adequacy analysis, we use a micro simulation model to project future initial pension levels relative to future gross wages. For the analysis of fiscal stability, we use a generational accounting-based macro model to forecast future yearly cash balances and calculate implicit pension liability (IPL) indicators. We find that major recent reforms have stabilized the public pension system until around 2035, but after this, mainly due to unfavorable demographic developments, we project increasing deficits that reach about 4% of GDP by 2060.
- Language
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Englisch
- Bibliographic citation
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Series: MNB Working Papers ; No. 2016/2
- Classification
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Wirtschaft
Social Security and Public Pensions
- Subject
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Pension reforms
Sustainability of pension systems
Micro simulation
- Event
-
Geistige Schöpfung
- (who)
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Freudenberg, Christoph
Berki, Tamás
Reiff, Ádám
- Event
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Veröffentlichung
- (who)
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Magyar Nemzeti Bank
- (where)
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Budapest
- (when)
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2016
- Handle
- Last update
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10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Freudenberg, Christoph
- Berki, Tamás
- Reiff, Ádám
- Magyar Nemzeti Bank
Time of origin
- 2016
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