For many years Serbia has been running fiscal deficit, which has considerably increased since 2008, leading to rise in public debt from 29.2% of GDP in 2008 to 60.3% of GDP in the end of 2012. This paper is aimed at resolving the dilemma if the economic recovery would be sufficient to reduce...

International pension reform experiences indicate that, amid demographic aging, each country needs to identify the reform policies most suited to its own economic and social environment. The economic analysis in this paper suggests that a potential prefunding of the Serbian pension system,...