This note shows that the Italian Mini BOTs proposed in 2019 bore the potential neither to become Italian legal tender nor to practically increase Italian government debt, but to practically cause a mere reduction in taxation and thence in government spending or transfers. Since the Eurozone...

A basic function of public pension systems is to guarantee a satisfactory old-age income for short-sighted low earners. In proportional (i.e., earnings-related) systems, this requires a sufficiently high contribution rate. At the same time, there should be a cap on the pension contribution base...

This paper analyzes the effect of public pension system on lifespan and happiness level using optimal longevity model. This paper found the following. Public pension system can make life expectancy longer, however, the extension of lifespan caused by the public pension, not by own decision,...