Using a complex long-run growth model, this paper investigates the long-term sustainability of the pension system in the Slovak Republic. The long-run growth model employed in the paper is able to perform projections for several decades ahead, which is necessary for this type of analysis. The...

Over the past century, most industrialized countries have adopted public pension systems based pay-as-you-go system, according to which the actual contributors pay the pensions of the actual pensioners, with the expectation that future taxpayers pay their pensions when they retire. The evolution...

This paper studies the impact of credit rating agency (CRA) downgrade announcements on the value of the Euro and the yields of French, Italian, German and Spanish long-term sovereign bonds during the culmination of the Eurozone debt crisis in 2011-2012.GARCH modeling of sovereign bond yields and...

The paper investigates the link between corruption and efficiency by using a rich micro-level dataset concerning solid waste collection activities in 529 Italian municipalities observed over the years 2004-2006. In order to test the impact of corruption on cost efficiency we estimate a...