In Romania before 1989, as elsewhere in the Soviet world, retirement support was one of the few rewards that the regime offered its citizens. In the years which followed the overthrow of Nicolae Ceausescu, the public retirement system lost the constraints imposed by a command economy, and its...

In this paper we present the macroeconomic model elaborated by the Modeling Group of the International Center for Policy Studies. This paper includes the theoretical background as well as a detailed explanation of the two parts of the model: forecasting of nominal GDP and inflation and...

In Romania before 1989, as elsewhere in the Soviet world, retirement support was one of the few rewards that the regime offered its citizens. Retirement provisions were based exclusively transfers, through the State, from the current working population to the pensioners. Technically, the system...