Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...

Conventional pension systems suffer from a design defect which makes them financially unsustainable, and a source of inefficiency for the economy as a whole. The paper outlines a second-best policy which includes a public pension system made up of two parallel schemes, a Bismarckian one allowing...

The goal of this study is to present an insider view on the pension reforms implemented in Hungary between 1996 and 2009. Both political economy as well as institutional economics will be used as the main approaches to analyse and explain the reform process and some of its effects. The following...

In seinem Kommentar nimmt Eckart Bomsdorf, Universität zu Köln, Stellung zu den Rentenreformplänen der Bundesregierung. Seiner Meinung nach enthält der Gesetzesentwurf sowohl Positives, z.B. bei der Erwerbsminderungsrente, als auch Widersprüchliches, z.B. bei der sogenannten Rente mit 63....