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The Norwegian NDC Scheme : Balancing Risk Sharing and Redistribution / Nils Martin Stolen.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Stolen, Nils Martin.
- Series:
- Social Protection and Labor Discussion Papers.
- World Bank e-Library.
- Social Protection and Labor Discussion Papers
- Language:
- English
- Subjects (All):
- Early Retirement.
- Fiscal Sustainability.
- Income Distribution.
- Labor Markets.
- Pension Reform.
- Pensions and Retirement Systems.
- Public Sector Development.
- Social Protections and Labor.
- Local Subjects:
- Early Retirement.
- Fiscal Sustainability.
- Income Distribution.
- Labor Markets.
- Pension Reform.
- Pensions and Retirement Systems.
- Public Sector Development.
- Social Protections and Labor.
- Other Title:
- Norwegian NDC Scheme
- Place of Publication:
- Washington, D.C. : The World Bank, 2019.
- System Details:
- data file
- Summary:
- 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.
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