The report's key findings are:• Connecticut's pension systems for state employees and teachers face large unfunded liabilities, despite recent efforts by the State to fund.• A significant source of the problem is the "legacy debt" built up before the State began pre-funding its pensions in...

Since 2007, backloaded amortization schedules and investment returns below the assumed return (mostly during the financial crisis) added to the unfunded liability for NHRS and increased costs. However, because NHRS is a relatively small retirement system and employers do not contribute much...

Employers have long had a significant impact on workers’ retirement prospects. Aside from Social Security, employer retirement income plans are the most important source of income for the great majority of retirees. How long workers can stay employed also largely depends on employer hiring and...

This study was undertaken in order to provide better insight into the dynamics of the life-cycle model and to develop a set of quantitative relationships that model the behaviour of macroeconomic aggregates. To begin, a microeconomic model was constructed which could, with a certain accuracy,...

In this paper we deal with the financial sector of CANDIDE 1.1. We are concerned with the determination of the short-term interest rate, the term structure equations, and the channels through which monetary policy influences the real sector.

En choisissant Le Québec économique 2009 comme titre, nous ouvrions volontairement la voie à une analyse en deux temps. D'une part, nous souhaitions évaluer l'économie québécoise en mesurant le chemin qu'elle a parcouru au cours des dernières décennies jusqu'à aujourd'hui. D'autre...