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in Albania through actuarial projections related to demographic structure, unemployment, number of contributors and … the likely outcome if Albania continues with the same scheme as currently used. Second, we investigate the likely outcome … International Monetary Fund. The study concludes and recommends some of the steps for reforming the pension scheme in Albania based …
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This paper studies the financial sustainability of the Albanian pension fund and assesses possible options for its reform. The paper concludes that the pension fund is not sustainable in its current form and proposes for the urban scheme a combination of parametric changes to the existing...
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We study the effect of a declining labor force on the incentives to engage in labor-saving technical change and ask how this effect is influenced by institutional characteristics of the pension scheme. When labor is scarcer it becomes more expensive and innovation investments that increase labor...
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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...
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