53-62

• Βογιατζής, Ιωάννης
• Συριόπουλος, Κώστας
• Φράγκος, Νικόλαος

This paper presents the results of the actuarial valuation method Projected Unit Credit (“benefits/years of service”) in order to assess the effects of the public sector downsizing on real economy and social security in Greece, using a prototype data set. We found a social security loss of about 1.3 bn.€, and the effect on the GDP is estimated -13.6 bn.€ (or -7%). We also report a decrease in the direct income by 6.1 bn.€.

• Economics and Business
• Computer and information sciences

• Economics
• Social structure
• Statistics

projected unit credit method, public sector downsizing, pensions, social security

Περιέχει πίνακες, σημειώσεις και βιβλιογραφία

1. Artikis, T.C., 2012. Formulating a stochastic discounting model with actuarial and riskmanagement applications, Vol 62, Issues 3-4, pp. 7-15.Bone, S. M. and Kabel, A. J., 1986. The Projected Unit Credit Method of Funding ofSuperannuation Plans, Institute of Actuaries of Australia.Christiano, L., Eichenbaum, M., Rebelo, S., 2011. When is the Government SpendingMultiplier Large? Journal of Political Economy, Vol. 119, Issue 1, pp.78-121.ECFIN Statistical Annex of European Economy, European Commission, Spring 2013.Monokroussos, P., Thomakos, D., 2012. Fiscal multipliers in deep economic recession and thecase for a 2-year extension in Greece’s austerity programme, Economy & Markets, vol.VIIIssue 4, pp. 1-44.Papakonstantinou, I., 1994. An actuarial investigation into the mortality of impaired insuredlives, SPOUDAI, Vol. 44, Issues 1-2, pp. 40-61.Pugh, C., 2006. Funding Rules and Actuarial Methods, OECD Working Papers on Insuranceand Private Pensions, No. 1, OECD Publication.