This paper presents an econometric analysis of 65 episodes of fiscal adjustment in the OECD from 1960 through 1992. The episodes are the ones that Perotti (1995) has identified as entailing major reductions of previous deficits. The paper estimates the effect on the growth of GDP and of...

Arguments are presented in the case of Eastern European transition countries for combining the restructuring of insolvent pay-as-you-go retirement systems with the introduction of mandatory, private, funded pensions. They involve the reduction of dead-weight loss, the return to formal activity...

This paper describes the crisis of Romania's pension system , and analyses the reforms the government elected in 1996 is undertaking to resolve this crisis. Insolvency was principally due to demoralization of the system in the period following the collapse of Communism. Governments from 1990 to...

This edited volume seeks to provide a critical and technical look at international political economy indices (PEIs). It examines measurement issues, relates PEIs to economic theory, and suggests better measures than those currently used.