The size of the public debt is now one of the main areas of interest of the entire society. As the size of the debt increases with time, one should consider possible ways of reducing it. Decision makers focus both on ways to reduce the increase in public debt and on ways to reduce its size....

Population aging will be a major determinant of long-run economic development in industrial and developing countries. The extent of the demographic changes is dramatic in some countries and will deeply affect future labor, financial and goods markets. The expected strain on public budgets and...