Sergio, Cesaratto - In: Politica economica - Journal of Economic Policy (PEJEP) (2001) 3, pp. 359-366
These note puts forward some criticism of the transition plan from the present dominant pay-as-you-go pension system to a mixed one (payg and capitalisation) proposed on this journal by Forni and Giordano (F-G). To begin with, the advantages for the workers are not clear. This is so because, on...