This study provides a comprehensive analysis of the generational wealth transfer within Sweden's public pay-as-you-go pension system introduced in 1960. Using extensive administrative registers, the paper quantifies the contributions made and benefits received by each birth cohort. The findings...

This paper surveys the most significant problems of the pension systems of EU11 countries. These nations had to transform their old-age social security systems after replacing a state-socialist economic order with a capitalist one. Stressing common as well as specific features, our paper...

The Croatian system of old-age provision comprises a traditional public pay-as-you-go scheme and a mandatory funded scheme ("second pillar") that will provide increasing amounts of supplementary pensions to those entering retirement in the future. Due to the continuing economic crisis, the...

We analyze the political stability of capital funded social security. In particular, using a stylized theoretical framework we study the mechanisms behind governments capturing pension assets in order to lower current taxes. This is followed by an analysis of the analogous mechanisms in a...

Pensions may be provided for in a modern society by a mix of several methods, namely by voluntary individual savings, mandatory fully-funded occupational pension systems, mandatory social security financed by pay-as-you-go, and old-fashioned hoarding in cash. Here, we call the specific mixture...