Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...

So-called activation policies aiming at bringing jobless people into work have been a central component of welfare reforms across OECD countries during the last decades. Such policies combine restrictive and enabling programs, but their characteristic feature is that also enabling programs are...

This paper conducts a time series econometric analysis in order to empirically evaluate the role of financialisation in the slowdown of labour productivity in Portugal during the period from 1980 to 2017. During that time, the Portuguese economy faced a financialisation phenomenon due to the...

The main purpose of this paper is to analyse the interdependence between labour productivity and the occupational structure of human capital in a spatial cross-section. Research indicates (see Fischer 2009) the possibility to assess the impact of the quality of human capital (measured by means...

This extended book review of Creating a Learning Society by Joseph Stiglitz and Bruce Greenwald (2014) looks at the 700-page long scholarly work from a transition economy perspective. Using as a starting point Arrow's renowned concept of "learning by doing", the authors throw away the doctrines...

The article presents a theoretical generalisation and solution of a current scientific and applied problem which develops theoretical principles, methodological approaches and scientific and practical recommendations for improving the mechanism of labour efficiency management in terms of...