Matsuo examines the structure and prospects of the Japanese pension system in the context of the challenges posed by population aging and the high current public debt. Social security expenditure accounts for almost half of the general expenditure in the Japanese budget and is growing rapidly....

This paper analyzes pension reforms in Europe and their determinants. As pension reforms are intrinsically difficult to define and pinpoint, we introduce an alternative measure of pension reforms by comparing long-term forecasts of pension expenditures for seventeen European countries. The...

This paper analyzes pension reforms in Europe and their determinants. As pension reforms are intrinsically difficult to define and pinpoint, we introduce an alternative measure of pension reforms by comparing long-term forecasts of pension expenditures for seventeen European countries. The...