Ward E. Romp
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View article: Some intergenerational arithmetic to control public debt in the EU
Some intergenerational arithmetic to control public debt in the EU Open
Long-term projections are the bedrock of any analysis looking at the sustainability of public finances. This paper computes the changes in economic growth in individual European Union countries needed for government debt-to-GDP ratios to s…
View article: OECD pension reform: The role of demographic trends and the business cycle
OECD pension reform: The role of demographic trends and the business cycle Open
Using a new real-time dataset from Beetsma et al. (2020) containing all pension reform measures in 23 OECD countries between 1970 and 2017, we demonstrate that, in contrast to what one might a priori expect, the timing of pension reform me…
View article: Sustainability of pension systems with voluntary participation
Sustainability of pension systems with voluntary participation Open
Motivated by declining support for mandatory participation in pension arrangements, we explore whether the intergenerational risk-sharing benefits that these arrangements offer suffice to ensure their survival when participation becomes vo…
View article: PENSION FUND RESTORATION POLICY IN GENERAL EQUILIBRIUM
PENSION FUND RESTORATION POLICY IN GENERAL EQUILIBRIUM Open
When the financial positions of pension funds worsen, regulations prescribe that pension funds reduce the gap between their assets (invested contributions) and their liabilities (accumulated pension promises). This paper quantifies the bus…
View article: ‘Whatever it takes’ and the role of Eurozone news
‘Whatever it takes’ and the role of Eurozone news Open
This letter shows that the ‘Whatever it takes’ speech by ECB President Draghi on 26 July 2012 and the ensuing installation of the Outright Monetary Transactions’ framework are associated with a reduction in the domestic and cross-border ef…
View article: What Drives Pension Reform Measures in the OECD? Evidence based on a New Comprehensive Dataset and Theory
What Drives Pension Reform Measures in the OECD? Evidence based on a New Comprehensive Dataset and Theory Open
Using a unique narratively‐constructed dataset of pension reform measures of the OECD countries since the 1970s, we explore the determinants of those measures based on information available when they are legislated. We distinguish expansio…