We extend the benchmark model of Aghion and Blanchard (1994) assuming two segments of the emerging private sector that differ in workers' productivity. We look at the paths of employment, wages, taxes, labor costs and profits during and after the transition, up until the shock is fully absorbed....

We extend the benchmark model of Aghion and Blanchard (1994) assuming two segments of the emerging private sector that differ in workers’ productivity. We look at the paths of employment, wages, taxes, labor costs and profits during and after the transition, up until the shock is fully...

Thanks to a joint effort of the Central Statistical Office (KSH) and the National Pension Insurance Directorate (ONYF) a special survey conducted in January-March 2008 provided information - for the first time - on the total accrual years of the non-pensioner population of Hungary. The data base...

This study investigates the crowding out effect among old and young workers in the Hungarian public sector, using job-level data. The analysis improves upon analyses based on aggregate data by considering the levels of employment for various labour types and the employment opportunities and...

Thanks to a joint effort of the Central Statistical Office (KSH) and the National Pension Insurance Directorate (ONYF) a special survey conducted in January-March 2008 provided information - for the first time - on the total accrual years of the non-pensioner population of Hungary. The data base...

This study investigates the crowding out effect among old and young workers in the Hungarian public sector, using job-level data. The analysis improves upon analyses based on aggregate data by considering the levels of employment for various labour types and the employment opportunities and...

A life-cycle growth model is used to investigate the quantitative impact of gradually converting the financing of social security from pay-as-you-go (PAYGO) to full funding. The magnitudes of the losses and gains that particular age cohorts will experience under alternative speeds of conversion...