This paper contributes to the discussion on the European current account imbalances by analysing the intra-European trends since 1990 based on the theory of optimum currency areas. The authors show that German unification was the origin of not only the 1992-93 EMS crisis but also rising...

The long-term financing of social security faces considerable problems which give rise to the question whether wages can and should continue to serve as the only assessment basis for social security contributions. The calculation of, at least, the employers' contributions on a broader value...

A specificity of the current French system is that a private sector worker is currently covered by two mandatory public pay-as-you-go (PAYGO) schemes: a general defined benefit (DB) scheme - which is the main component - managed by the state and a points scheme (AgircArrco) managed by social...