Pay-as-you-go (PAYG) pension schemes are becoming increasingly unsustainable in the face of drastic population aging. Simultaneously, the contribution rates may aggravate an already serious unemployment problem. A regime switch to a funded system could help to alleviate the unemployment problem...

The authors of this book seek to simulate the transition from the present system of corporate taxation to a system of downstream taxation in order to reach a better understanding of the effects of redistribution caused by a tax reform during the transition from the old to the new long-term...