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Macroeconomic Policy and Institutions During the Transition to European Union Membership
Branson, William H.; Braga de Macedo, Jorge; von Hagen, … - 2021
membership (Czech Republic, Hungary, Poland, and Slovakia). A Multi-Annual Fiscal Adjustment Strategy (MAFAS) and a Pre … procedures is presented, in comparison with those prevailing in EU member states. The comparison suggests that the four CE …
Persistent link: https://www.econbiz.de/10013225816
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Political Risk Versus Market Risk in Social Security
Shoven, John B. - 2010
Pay-as-you-go Social Security is typically characterized as a universal defined benefit pension program. Implicit in this characterization is a sense that the participant%u2019s investment in future benefits is somehow guaranteed, or safe from risk. This study develops the concept of...
Persistent link: https://www.econbiz.de/10012761674
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Why a Funded Pension System is Useful and Why it is Not Useful
Sinn, Hans-Werner - 2021
Based on explicit present value calculations, the paper criticizes the view that the PAYGO system wastes economic resources. In present value terms, there is nothing to be gained from a transition to funded system even though the latter offers a permanently higher rate of return. The sum of the...
Persistent link: https://www.econbiz.de/10013210645
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Old Europe Ages : Reforms and Reform Backlashes
Börsch-Supan, Axel H. - 2010
focuses on three large Continental European countries: France, Germany, and Italy. These countries have large pay …
Persistent link: https://www.econbiz.de/10013147613
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The Value of Children and Immigrants in a Pay-as-You-Go Pension System : A Proposal for a Partial Transition to a Funded System
Sinn, Hans-Werner - 2022
endowed with individual accounts equals the gross contributions" of this member. In Germany, this is an amount of about DM 175 …
Persistent link: https://www.econbiz.de/10013309212
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The Crisis of Germany's Pension Insurance System and How it Can Be Resolved
Sinn, Hans-Werner - 2021
The paper discusses the options for a reform of the German pension system using a model developed at CES for the German Council of economic advisors to the Federal Ministry of Economics and Research. It is argued that the German pay-as-you-go-system is efficient in a present value sense but will...
Persistent link: https://www.econbiz.de/10013310801
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Inflation Targeting in Transition Countries : Experience and Prospects
Jonas, Jiri; Mishkin, Frederic S. - 2021
This paper examines the inflation targeting experience in three transition countries: the Czech Republic, Poland and … Hungary. While the examined countries have missed inflation targets often by a large margin, they nevertheless progressed well …
Persistent link: https://www.econbiz.de/10013225557
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On the Speed of Transition Central Europe
Aghion, Philippe; Blanchard, Olivier J. - 2003
Poland so far. We then develop a model and use it to think about the determinants of the speed of transition and the level of … unemployment. Finally, we return to the role of policy and the future in Poland, as well as the causes of cross-Central European …
Persistent link: https://www.econbiz.de/10014089271
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The Labor Market Effects of Refugee Waves : Reconciling Conflicting Results
Clemens, Michael A. - 2017
An influential strand of research has tested for the effects of immigration on natives' wages and employment using … consensus that the impact of immigration on average native-born workers is small, and fails to substantiate claims of large …
Persistent link: https://www.econbiz.de/10012955946
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Israel and the 1990-2015 Global Developments : Riding with the Global Flows and Weathering the Storms
Razin, Assaf - 2016
include: (1) The collapse of the Soviet Union and the massive immigration to Israel which followed; (2) The Great Moderation …
Persistent link: https://www.econbiz.de/10012984097