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...

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...

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...

The paper deals with the theoretical and practical aspects of the taxation of labor and capital in the Czech Republic. The authors show that if the low flexibility of Czech labor is taken into account, progressive taxation could stimulate a higher supply of labor than would a linear tax. The...

The purpose of this model is to measure the impact of localization of new (mostly industrial) enterprises in strategic industrial zone in regional economy. Model deals with multiplication effect of regional consumption expenditures, which is (among others) strongly affecting development of...

The current record wave of immigration is a problem and does not conform to the interests of most people in Europe. Immigration is ineffective as a global development policy. The article argues in favor of an immigration that is balanced and that is in the interests of citizens in Europe rather...

The paper examines implications of both real and nominal convergence for a fully-funded pension system. The process of convergence implies that higher contribution rates are necessary in the converging economy for replacement ratios to be the same as in a steady-state economy. This effect in the...

Non-contributory periods is one of the key issues in the public discussion on the planned reform of the pension system in the Czech Republic. This article focuses on a detailed analysis of non-contributory periods in the Czech pension system and their impact on pension system balance and micro...