The Implication of Demographics on the Romanian Pension System

Authors

  • A.G. Enescu Transilvania University of Brasov, Romania
  • A.G. Petrosan Transilvania University of Brasov, Romania
  • G. Dinca Transilvania University of Brasov, Romania https://orcid.org/0000-0003-4758-9556

DOI:

https://doi.org/10.31926/but.es.2021.14.63.2.10

Keywords:

pension system, sustainability, Box-Jenkins, ARIMA, Romania

Abstract

This paper aims to analyze the influence of the demographical factors on the short-term sustainability of the pension system from Romania. The data used for econometric modeling consisted of panel data for the period 2009-2019 for 8 European Union member states, together with time-series data for autoregressive modeling. The following econometrical models were used: random-effects GLS regression and Box-Jenkins (ARIMA). The results emphasize increasing demographical pressure on the Romanian pension system and the need for pension system reform.

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Published

2021-12-17

Issue

Vol. 14(63) No. 2 (2021)

Section

FINANCE AND ACCOUNTANCY

License

Copyright (c) 2021 Bulletin of the Transilvania University of Brasov. Series V: Economic Sciences

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.