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What can we learn about pension reform from generational accounts for the UK?

Banks, J.; Disney, R.; Oldfield, Z.; (1999) What can we learn about pension reform from generational accounts for the UK? (IFS Working Papers WP99/1). Institute for Fiscal Studies: London, UK. Green open access

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Abstract

This paper considers the relevance of a set of generational accounts in informing policy debate in the UK. With regard to transparency, Generational Accounts can, under sensible assumptions, provide a useful summary statistic to supplement our analysis of government policy. Interpreting differences in the accounts across groups as measures of the incidence or redistributiveness of existing or proposed policies is more problematic. With respect to UK pension reform, within-cohort differences raise important issues. Finally we argue that past pension reforms have been characterised by inaccurate forecasts as opposed to a lack of understanding of the generational incidence of proposed policy.

Type: Working / discussion paper
Title: What can we learn about pension reform from generational accounts for the UK?
Open access status: An open access version is available from UCL Discovery
Publisher version: http://dx.doi.org/10.1920/wp.ifs.1999.9916
Language: English
Additional information: Working paper draft of published article. Please see http://eprints.ucl.ac.uk/14158/ for the version published in The Economic Journal
UCL classification: UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/14775
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