Demographic trends in most developed economies are characterized by rising longevity and decreasing birthrates. These trends endanger the sustainability of the current public pension systems. Therefore social security reform proposals are on the agenda in many countries. This paper demonstrates...

The concepts of economic and social security are very complex and dynamic, closely related to many new challenges that characterize today's societies. Our research aims at investigating the economic and social security considering the current vulnerabilities, using an integrated multicriteria...

We examine the impact of a stylized pay-as-you-go (PAYGO) Social Security program in an economy of overlapping generations with equilibrium growth. We adopt realistic mortality and other demographic assumptions and allow for the presence or absence of full life annuities. In all cases we find...