This paper focuses on alternative money's worth measures of the Italian (public) pension system for representative cohorts, considering both the present transition and the future steady state envisaged by recent reforms. Micro-based calculations of the aggregate budget effects induced by further...

This paper focuses on alternative money’s worth measures of the Italian (public) pension system for representative cohorts, considering both the present transition and the future steady state envisaged by recent reforms. Micro-based calculations of the aggregate budget effects induced by...

A growing body of literature shows that financial literacy affects household savings and investment choices. Less attention has, however, been devoted to its effect on debt behavior. This paper contributes to filling this gap by considering how financial literacy influences household attitudes...

A growing body of literature shows that nancial literacy aects household savings and investment choices. Less attention has, however, been devoted to its eect on debt behaviour. This paper contributes to lling this gap by considering how nancial literacy in uences household attitudes with...

This paper contributes to the ESF Forward Look project “Ageing, Health and Pensions in Europe” by providing an overview of policy questions and research literature on the adequacy of saving for old age in European countries. Given the current status and practices, the paper describes...

By requiring individuals to decide whether to participate in (newly established) pension funds, how much to contribute and how to invest their retirement wealth, pension reforms have raised concerns about the ability of households to deal with financial decisions. Using the Bank of Italy's...