A firm theoretical basis for the empirical relationship between dependency rates and savings behavior in developing countries is still lacking. Two demographic extensions of the representative household’s stochastic dynamic optimization problem are presented here. It is shown that the...

Bangladesh’s second Poverty Reduction Strategy Paper -- “Steps Towards Change: National Strategy for Accelerated Poverty Reduction II (NSAPR II)†– provides a framework for implementing the government’s agenda during FY09-FY11. First prepared by a Caretaker...

This Joint Staff Assessment assesses the Economic Growth Support and Poverty Reduction Strategy (EGSPRS), which is the first full poverty reduction strategy paper (PRSP) prepared by the government of Mongolia. The EGSPRS builds on the strategy articulated in the interim report (I-PRSP) presented...

The Joint Staff Assessment (JSA) of the Poverty Reduction Strategy Paper Progress Report on Kenya reviews poverty reduction strategy. The Investment Program for the Economic Recovery Strategy for Wealth and Employment Creation (IP-ERS) that the government of Kenya has recently submitted to the...

This paper focuses on the Poverty Reduction Strategy Paper (PRSP) for the Democratic Republic of São Tomé and Príncipe. The National Poverty Reduction Strategy Paper represents the result of analyses of the country’s current situation as well as a set of proposals designed to rout the...

This paper reviews the Poverty Reduction Strategy Annual Evaluation Report 2005 for Moldova. Economic growth and income redistribution policies promoted in the context of Economic Growth and Poverty Reduction Strategy (EGPRS) implementation contributed to higher incomes and improved access of...

This paper considers the implications of the prospective aging of the U.S. population for the social security system and concludes that the large and growing cashflow surpluses of the social security trust funds should be saved to help insulate living stands against this change. A number of...

It is shown that the inefficiencies created by the “soft” budget constraint, enjoyed by enterprises in Eastern Europe and elsewhere, will continue so long as governments are unable credibly to threaten not to bail out loss-makers. Commitment to a “hard” budget constraint can best be...

The paper surveys the major economic, financial, and administrative issues that confront social security systems in Latin America. The larger systems have contributed substantially to public sector financial disequilibria. Expenditures of the younger systems with more limited coverage could...

This 2012 Article IV Consultation highlights that economic growth in Luxembourg slowed in 2011 amid the euro area sovereign debt crisis. Reflecting sluggish external demand, economic activity is expected to further weaken, with growth projected to decline to ½ percent in 2012. Executive...