Most industrialized countries are struggling with reforming their retirement income systems. The systems have mainly been based on public pay-as-you-go plans but as the systems have become mature they have increased the fiscal burden of nations and become an inadequate device for financial...

Most industrialized countries are struggling with reforming their retirement income systems. The systems have mainly been based on public pay-as-you-go plans but as the systems have become mature they have increased the fiscal burden of nations and become an inadequate device for financial...

In the wake of the worst financial crisis since the Great Depression, lawmakers and regulators around the world have changed the playbook for how banks and other financial institutions must manage their risks and report their activities. The US Congress passed the Dodd-Frank Wall Street Reform...

The paper examines the following pension reform strategy that aims to defuse the pension time-bomb without giving rise to intergenerational conflict. Let people with rights to public pensions have the option of using a portion of their potential pensions to provide employment vouchers for...