Kubíèek, Jan - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 11-12, pp. 478-499
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...
