Robalino, David; Tatyana, Bogomolova - Volkswirtschaftliche Fakultät, … - 2006
negative pay-as-you-go assets. Under these circumstances, it is misleading to consider the implicit pension debt a contingency …This paper breaks down the contingent liability of a mandatory pension system into two components: the implicit pension … debt and the pay-as-you-go asset. It then estimates these two components for 12 pension schemes across six MENA countries …