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KMID : 1124020180340010001
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Korean Social Security Studies
2018 Volume.34 No. 1 p.1 ~ p.24
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Does the relationship between pensionable age and public pension expenditure differ across the elderly poverty rates of OECD countries?
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Kwon Hyeok-Chang
Yeum Dong-Moon
Jung Chang-Lyul
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Abstract
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The purpose of this study is to examine the relationship between public pension age and public pension expenditure. The data used for analyses in this study is the panel data from 1990 to 2010 on OECD countries. The results of analysis are as follows. First, panel data analyses show that the elderly poverty rate is associated with the relationship between public pension age and public pension expenditure. Second, the result of the latent profile analysis shows that OECD countries are classified into 2 types; a group of countries having low elderly poverty rate (23 countries) and the other group of countries having high elderly poverty rate (10 countries). Third, panel data analyses based on the result of the latent profile analysis show that there is not a statistically significant relationship between public pension age and public pension expenditure as a proportion of GDP in the group of countries having high elderly poverty rate. However, it is shown that there is a statistically significant and negative relationship between public pension age and public pension expenditure as a proportion of GDP in the group of countries having low elderly poverty age. Thus this study has a policy implication that countries with high elderly poverty rates such as Korea need to alleviate elderly poverty rates first even in order to reduce public pension expenditure.
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KEYWORD
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public pension age, public pension expenditure, elderly poverty rate, latent profile analysis, panel data analysis
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