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...

The aim of the research is to introduce a generational stock-flow model to estimate international migration needs and provide long terms demographic forecasts in which migration is an endogenous variables determined by demographic trends and additional labor demand. At the empirical levels, it...

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...

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...

Italian Abstract: In questo saggio vengono esaminati gli effetti di ampie manovre di politica di bilancio, ovvero di un consolidamento e di uno stimolo fiscale nei diciotto stati membri dell'Eurozona, in un periodo di riferimento che va dal 1980 al 2015. L'evidenza empirica dimostra che nel caso...

Italian Abstract: L'articolo intende mostrare l'esistenza di un filo conduttore che attraversa la riflessione einaudiana sul pareggio di bilancio, e che va da "Le entrate pubbliche nello stato sabaudo" (1907) sino ad arrivare a "L'interpretazione dell'articolo 81 della Costituzione" (1948)....

English Abstract: The report analyses the dynamics of financial markets in the first half of 2021, highlighting the main vulnerabilities in the context of the crisis triggered by the pandemic in Europe and the development of sustainable finance and crypto assets at a global level. The Report...

Italian Abstract: La “Legge di Wagner” è il primo modello di determinazione della spesa pubblica presentato in letteratura. Scopo di questo saggio è analizzarne l'evidenza empirica in Italia, in riferimento al periodo 1960-2008, a livello disaggregato e per mezzo dell'approccio VAR. Dopo...