Who bears the fiscal burden of the National Pension System? A Generational Acconting Approach
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Chun, Young Jun | - |
dc.contributor.author | Kim, Jin-Yeong | - |
dc.contributor.author | Lim, Byuing In | - |
dc.date.accessioned | 2022-07-15T23:15:02Z | - |
dc.date.available | 2022-07-15T23:15:02Z | - |
dc.date.created | 2021-05-14 | - |
dc.date.issued | 2015-04 | - |
dc.identifier.issn | 0974-6846 | - |
dc.identifier.uri | https://scholarworks.bwise.kr/hanyang/handle/2021.sw.hanyang/157417 | - |
dc.description.abstract | We address the financial sustainability of the National Pension System (NPS) of Korea and the intergenerational inequity due to the system using generational accounting. We find thatthe current system is notfinancially sustainable and shifts the fiscal burden excessively to the future generations, even when the recent 2007 National Pension Act revision is reflected. Moreover, the parametric reform, which raises the contribution rate and alters the timing of the contribution adjustment, is not found to solve the problem of the system fundamentally. The prefunding, which raises the contribution rate before the NPS fund’s depletion, is effective to restore the fiscal soundness of the NPS and enhance the intergenerational equity, in the sense that it equalizes the net tax burden across generations. However, the revision plan increases the NPS fund excessively, and the market power of the NPS fund in the financial market, which causes the distortion of the behavior of the financial market participants. A more structural reform, which recovers the financial sustainability and minimizes the distortion of the economic behavior, should be prepared. | - |
dc.language | 영어 | - |
dc.language.iso | en | - |
dc.publisher | Indian Society for Education and Environment | - |
dc.title | Who bears the fiscal burden of the National Pension System? A Generational Acconting Approach | - |
dc.type | Article | - |
dc.contributor.affiliatedAuthor | Chun, Young Jun | - |
dc.identifier.doi | 10.17485/ijst/2015/v8iS7/70521 | - |
dc.identifier.bibliographicCitation | Indian Journal of Science and Technology, v.8, no.S7, pp.527 - 532 | - |
dc.relation.isPartOf | Indian Journal of Science and Technology | - |
dc.citation.title | Indian Journal of Science and Technology | - |
dc.citation.volume | 8 | - |
dc.citation.number | S7 | - |
dc.citation.startPage | 527 | - |
dc.citation.endPage | 532 | - |
dc.type.rims | ART | - |
dc.type.docType | 정기학술지(Article(Perspective Article포함)) | - |
dc.description.journalClass | 1 | - |
dc.description.isOpenAccess | N | - |
dc.description.journalRegisteredClass | scopus | - |
dc.subject.keywordAuthor | Fiscal Sustainability | - |
dc.subject.keywordAuthor | Generational Accounting | - |
dc.subject.keywordAuthor | Intergenerational Inequity | - |
dc.subject.keywordAuthor | Public Pension | - |
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.
222, Wangsimni-ro, Seongdong-gu, Seoul, 04763, Korea+82-2-2220-1365
COPYRIGHT © 2021 HANYANG UNIVERSITY.
Certain data included herein are derived from the © Web of Science of Clarivate Analytics. All rights reserved.
You may not copy or re-distribute this material in whole or in part without the prior written consent of Clarivate Analytics.