We analyze the problem of harmonizing public debt and public pension schemes in a multi-jurisdictional setting. Our main findings are that harmonization seems to be necessary on efficiency grounds if households can freely migrate between the jurisdictions. On the other hand, harmonization is...

The authors outline a public pension reform where contribution rates are reduced to zero over a very long horizon and in a Pareto-improving fashion.

The authors outline a public pension reform where contribution rates are reduced to zero over a very long horizon and in a Pareto-improving fashion.