Keeping public finances on a sustainable foundation while the population ages is clearly a problem in Finland, as in many other western countries. The shrinking of the working-age population, ageing of the labour force, and growth in the number of very old persons form a difficult combination...

This paper describes the model MARS, which is the shared property of the DP and the DSS. Currently, MARS aims at planning the general evolution of the first pillar pension scheme for private sector wage-earners, based on macroeconomic and demographic data. It allows to evaluate the impact of...

That the Government of Mauritius provides nearly every resident over the age of 60 with a non-contributory, basic pension is one of the best-kept secrets in the world. The scheme dates from 1950 and became universal in 1958, following abolition of a means test. Remarkably, introduction of a...

Most workers in developing countries have no access to pensions in old age. Well-intentioned reformers have concentrated on privatization, but this does nothing to expand coverage. Non-contributory, universal pensions automatically protect an entire population, in a way that contributory...

I analyze simultaneous voting on the wage tax rate and investment in public education using a model with three overlapping generations and ability differences inside each cohort. Wage tax revenue finances public education and social security benefits. I derive the results both for a...

This chapter analyzes the effects of an aging population on individual skill choices and the production structure by means of a dynamic general equilibrium model with overlapping generations and probabilistic aging. The model allows for capital-skill complementarity, which strongly affects the...

This paper is a part of the author's wider research on the current Polish pension fund system. It deals with the systemfs efficiency from the point of view of the individual fund member. After over three years of functioning, the savings accumulated with the pension funds only slightly exceed...

In earlier literature, the suggested Pareto improvements in pay-as-you- go (PAYG) systems have relied on the presence of externalities or the possibility of intragenerational redistribution. We show that neither assumption is necessary in an economy with intergenerational trade in a fixed factor...

This paper analyses a model of private unemployment insurance under limited commitment and a model of public unemployment insurance subject to moral hazard in an economy with a continuum of agents and an infinite time horizon. The dynamic and steady-state properties of the private unemployment...

This article has a twofold objective and addresses two central questions. Is there a gap between the preferences for and availability of various ways to make working patterns more flexible over the life course? What is the role of life course policy (LCP) in narrowing this gap? Using the...