Pensions, Price Shocks, and Macroeconomic Stability in Transition Economies : Illustrations From Belarus /
In many countries of the former Soviet Union, pensioners form a large and vulnerable group of the population, with pensions fixed in nominal terms. Attempts to "protect" this group have included a revaluation of benefits for retirees and the introduction of indexation arrangements based on...
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| Other Authors: | , , |
| Format: | Book |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
1994
Washington, D.C. : 1994 |
| Series: | IMF Working Papers ;
Working Paper No. 94/52 IMF Working Papers; Working Paper ; No. 1994/052 IMF Working Papers; Working Paper ; no. 94/52 IMF eLibrary |
| Subjects: |
| Summary: | In many countries of the former Soviet Union, pensioners form a large and vulnerable group of the population, with pensions fixed in nominal terms. Attempts to "protect" this group have included a revaluation of benefits for retirees and the introduction of indexation arrangements based on recent wage and price growth. In this paper, lagged indexation arrangements are shown to have large destabilizing effects that can potentially jeopardize the macroeconomic adjustment effort, particularly as inflation begins to decelerate. Some long-term problems relating to the aging of the population and associated policies are also discussed. Illustrative examples from Belarus are presented In many countries of the former Soviet Union, pensioners form a large and vulnerable group of the population, with pensions fixed in nominal terms. Attempts to “protect” this group have included a revaluation of benefits for retirees and the introduction of indexation arrangements based on recent wage and price growth. In this paper, lagged indexation arrangements are shown to have large destabilizing effects that can potentially jeopardize the macroeconomic adjustment effort, particularly as inflation begins to decelerate. Some long-term problems relating to the aging of the population and associated policies are also discussed. Illustrative examples from Belarus are presented |
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| Item Description: | Bibliographic Level Mode of Issuance: Monograph Part of the IMF eLibrary collection |
| Physical Description: | 1 online resource (30 pages) |
| ISBN: | 1-281-37925-5 1-4552-6663-9 1-4552-9073-4 1-4623-0462-1 1281379255 1451847181 1451847181: 1455266639 1455290734 1462304621 6613779687 9781281379252 9781451847185 9781455266630 9781455290734 9781462304622 9786613779687 |
| ISSN: | 1018-5941 2227-8885 1018-5941 ; |
| Access: | Restricted for use by site license Restricted for use by site license. |