A key figure which can be applied to measuring inter-generational imbalances involved in existing public pension schemes is given by the "implicit tax" that is levied on each generation's life-time income through participation in these systems. The implicit tax arises from the fact that, quite...

This paper reports the results of a survey among private sector economists about credibility and transparency of central banks. In line with the survey of Alan Blinder among central bankers, we asked participants in Ifo's World Economic Survey to answer questions on the importance and...