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The Czech Republic is going to face ageing of its population. It will affect the economy in many ways. The pension system is one of them. This paper provides a view on possibilities how to insure long-term stability of the pension system in the Czech Republic using a mix of pay-as-you-go and...
Persistent link: https://www.econbiz.de/10005036605
This paper analyzes the sustainability of intergenerational transfers in politico-economic equilibrium. We argue that this transfers arise naturally in a Markow perfect equilibrium in the fundamental state variables. In contrast to earlier literature, our explanation does not resort to altruism,...
Persistent link: https://www.econbiz.de/10008541321
The paper deals with a wide-spread myth that a switch from a PAYG to a funded pension system might solve adverse consequences of the population aging. It is shown, that under additional assumptions the pension debt (which is created during the process of the switch) is exactly equal to the value...
Persistent link: https://www.econbiz.de/10005036565
This essay focuses on the pension system and highlights some of its key elements. The first part deals with the economic principles connected with the social security system. Eatwell's model is utilized to give some basic intuition of terms and concepts used in the pension reform discussion. The...
Persistent link: https://www.econbiz.de/10005036662
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This paper deals with the situation on the Czech labour market in the period 1990-2006. It shows the status and development of the supply and demand sides of this market. Great attention is paid to the long-term trends in employment, self-employment, unemployment, and long-term unemployment. The...
Persistent link: https://www.econbiz.de/10005036290
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