This paper discusses design errors in public pension systems, using Hungary as an illus-tration. When the communist political and economic system was replaced by democracy and market economy, the subsequent governments had even greater difficulties in designing consistent pension reforms than...

This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social security system. Using a two-period overlapping generation model with potentially endogenous retirement decisions, the paper shows that the type of aging, i.e. declining...

This paper investigates the fiscal pressure from demographic change in relation to the labour marketspace for fifty countries that cover 75% of the world population. The pressure-to-space indicator ranks Poland, Turkey and Greece high. Apart from Turkey and India, developing countries rank low...

This paper discusses the gap in own old-age incomes of men and women and explores the causes for these differences by means of decomposition methods using German micro-data of the survey 'Alterssicherung in Deutschland' (ASID). The Gender Pension Gap has decreased but still amounts to about 60%...

This paper analyzes the impact of demographic aging on capital accumulation and welfare in economies with unfunded pensions. Using a two-period overlapping generation model with potentially endogenous retirement decisions, it shows that both the type of aging, i.e. declining fertility or...

The strong and increasing positive correlation between lifetime income and life expectancy (the longevity gap) has recently been widely studied. In this paper we employ the simplest, minimal model to demonstrate the impact of this long-neglected fact on the various types of public pension...