The Norwegian NDC Scheme
The main goals of reforming the Norwegian old-age pension system toward nonfinancial defined contributions (NDC) in 2011 were to improve long-run fiscal sustainability and labor supply incentives. Maintaining much of the redistributive effects of the former public pension system was also an important concern. Econometric analyses reveal the 2011 reform’s significant effects on postponing retirement. Results from a dynamic microsimulation model show that the reform is expected to have substantial effects on old-age pension expenditures in the long run without any large negative distributional effects. Macroeconomic analyses indicate that the reform is likely to make a great fiscal impact in the long run, and higher employment plays an important role in this aspect.
Saved in:
| Main Authors: | , , , |
|---|---|
| Format: | Working Paper biblioteca |
| Language: | English |
| Published: |
World Bank, Washington, DC
2019-04
|
| Subjects: | PENSION REFORM, EARLY RETIREMENT, LABOR SUPPLY, INCOME DISTRIBUTION, FISCAL SUSTAINABILITY, |
| Online Access: | http://documents.worldbank.org/curated/en/956771556879609873/The-Norwegian-NDC-Scheme-Balancing-Risk-Sharing-and-Redistribution https://hdl.handle.net/10986/31629 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| id |
dig-okr-1098631629 |
|---|---|
| record_format |
koha |
| spelling |
dig-okr-10986316292024-08-07T19:10:29Z The Norwegian NDC Scheme Balancing Risk Sharing and Redistribution Stølen, Nils Martin Fredriksen, Dennis Hernæs, Erik Holmøy, Erling PENSION REFORM EARLY RETIREMENT LABOR SUPPLY INCOME DISTRIBUTION FISCAL SUSTAINABILITY The main goals of reforming the Norwegian old-age pension system toward nonfinancial defined contributions (NDC) in 2011 were to improve long-run fiscal sustainability and labor supply incentives. Maintaining much of the redistributive effects of the former public pension system was also an important concern. Econometric analyses reveal the 2011 reform’s significant effects on postponing retirement. Results from a dynamic microsimulation model show that the reform is expected to have substantial effects on old-age pension expenditures in the long run without any large negative distributional effects. Macroeconomic analyses indicate that the reform is likely to make a great fiscal impact in the long run, and higher employment plays an important role in this aspect. 2019-05-06T21:06:05Z 2019-05-06T21:06:05Z 2019-04 Working Paper Document de travail Documento de trabajo http://documents.worldbank.org/curated/en/956771556879609873/The-Norwegian-NDC-Scheme-Balancing-Risk-Sharing-and-Redistribution https://hdl.handle.net/10986/31629 English Social Protection and Jobs Discussion Paper,no. 1905; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank application/pdf text/plain World Bank, Washington, DC |
| institution |
Banco Mundial |
| collection |
DSpace |
| country |
Estados Unidos |
| countrycode |
US |
| component |
Bibliográfico |
| access |
En linea |
| databasecode |
dig-okr |
| tag |
biblioteca |
| region |
America del Norte |
| libraryname |
Biblioteca del Banco Mundial |
| language |
English |
| topic |
PENSION REFORM EARLY RETIREMENT LABOR SUPPLY INCOME DISTRIBUTION FISCAL SUSTAINABILITY PENSION REFORM EARLY RETIREMENT LABOR SUPPLY INCOME DISTRIBUTION FISCAL SUSTAINABILITY |
| spellingShingle |
PENSION REFORM EARLY RETIREMENT LABOR SUPPLY INCOME DISTRIBUTION FISCAL SUSTAINABILITY PENSION REFORM EARLY RETIREMENT LABOR SUPPLY INCOME DISTRIBUTION FISCAL SUSTAINABILITY Stølen, Nils Martin Fredriksen, Dennis Hernæs, Erik Holmøy, Erling The Norwegian NDC Scheme |
| description |
The main goals of reforming the
Norwegian old-age pension system toward nonfinancial defined
contributions (NDC) in 2011 were to improve long-run fiscal
sustainability and labor supply incentives. Maintaining much
of the redistributive effects of the former public pension
system was also an important concern. Econometric analyses
reveal the 2011 reform’s significant effects on postponing
retirement. Results from a dynamic microsimulation model
show that the reform is expected to have substantial effects
on old-age pension expenditures in the long run without any
large negative distributional effects. Macroeconomic
analyses indicate that the reform is likely to make a great
fiscal impact in the long run, and higher employment plays
an important role in this aspect. |
| format |
Working Paper |
| topic_facet |
PENSION REFORM EARLY RETIREMENT LABOR SUPPLY INCOME DISTRIBUTION FISCAL SUSTAINABILITY |
| author |
Stølen, Nils Martin Fredriksen, Dennis Hernæs, Erik Holmøy, Erling |
| author_facet |
Stølen, Nils Martin Fredriksen, Dennis Hernæs, Erik Holmøy, Erling |
| author_sort |
Stølen, Nils Martin |
| title |
The Norwegian NDC Scheme |
| title_short |
The Norwegian NDC Scheme |
| title_full |
The Norwegian NDC Scheme |
| title_fullStr |
The Norwegian NDC Scheme |
| title_full_unstemmed |
The Norwegian NDC Scheme |
| title_sort |
norwegian ndc scheme |
| publisher |
World Bank, Washington, DC |
| publishDate |
2019-04 |
| url |
http://documents.worldbank.org/curated/en/956771556879609873/The-Norwegian-NDC-Scheme-Balancing-Risk-Sharing-and-Redistribution https://hdl.handle.net/10986/31629 |
| work_keys_str_mv |
AT stølennilsmartin thenorwegianndcscheme AT fredriksendennis thenorwegianndcscheme AT hernæserik thenorwegianndcscheme AT holmøyerling thenorwegianndcscheme AT stølennilsmartin balancingrisksharingandredistribution AT fredriksendennis balancingrisksharingandredistribution AT hernæserik balancingrisksharingandredistribution AT holmøyerling balancingrisksharingandredistribution AT stølennilsmartin norwegianndcscheme AT fredriksendennis norwegianndcscheme AT hernæserik norwegianndcscheme AT holmøyerling norwegianndcscheme |
| _version_ |
1807160341933588480 |