This research is aimed at developing a methodology for assessing the efficacy of a macroeconomic model of the Kazakhstani pension provision system. A hierarchy of indicators of the pension system efficacy is built using the graph method. The representativeness of these indicators is confirmed by...

The size of the public debt is now one of the main areas of interest of the entire society. As the size of the debt increases with time, one should consider possible ways of reducing it. Decision makers focus both on ways to reduce the increase in public debt and on ways to reduce its size....

The broadly used pay-as-you-go (PAYG) pension system is intrinsically wrong. The essence of the problem is that the PAYG system distributes the yield of raising children, i.e., of human capital investment (which is essentially the pension contribution), in such a way that it disregards the...

The investment practices of public pension funds have become a topic of major interest in the wake of President Clinton's 1999 proposal to invest a portion of the Social Security Trust Funds in equities. This study explores four possible avenues through which social or political considerations...

The outlook for the U.S. Social Security system is poor. Benefit schedules that assure solvency probably require (1) politicians to give up power they are unwilling to give up, and (2) workers to contribute more of their future production than they are willing to. In contrast, the outlook for...

Few will argue that Illinois has significant issues with the underfunding of its five public employee pension systems. In fact, many say the state faces a continuing “pension crisis.” However, this report argues that this “crisis” framework or mentality surrounding the issue actually...